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PUBLIC DOCUMENT. No. 9. 



TWENTY-SIXTH ANNUAL REPORT 



OF THE 



INSURANCE COMMISSIONER 



--- — -'--»- 



Commonioealtt) of Jllassactyusette, 



JANUARY 1, 1881. 



PART II. 
LIFE, CASUALTY, AND ACCIDENT INSURANCE. 



BOSTON: 
Eanto, gfarg, & C0., printer* to tjje ftommonfoealtfj, 

117 Franklin Street. 
1881. 



TABLE OF CONTENTS. 



[For Index to Companies, see end of Volume.] 



COMMISSIONER'S REPORT. 

Page 

Introductory v 

Companies Retired and Remaining vii 

The Hartford Life and Annuity vii, viii 

Thk National of the United States ix 

The Continental Life of Hartford ix 

An Encouraging Retrospect x 

Interest Rates and Standards of Reserve .... xi-xv 
Insurance Written, Actual and Computed Reserves, 

Surplus, etc xv-xviii 

Accident, Casualty, and Fidelity Insurance . . . xviii-xx 
Premium Notes, Deferred and Uncollected Premiums, 

Amounts pald for Ceased and Changed Policies, etc. . xx 

Mutual Aid and other Beneficiary Associations . . xxi 

Official Examinations xxii 

Recent Legislation xxiii 

Life Business of 1880 v. 1879 xxiii-xxv 

Statistical Tabulations, Ratios, etc xxvii-xliii 

Table A — Summary of Income, Expenditures, Assets, Liabili- 
ties, etc xxiv, xxviii 

Table B — Ratio of Net Assets to Computed Premium Re- 
serve xxiv, xxx 

Table C — Ratio of Real Estate and other Investments to Gross 

Assets xxiv, xxxii 

Table D — Policies Issued, Terminated, and Gained in 1880 . xxiv, xxxiv 

Table E — Classification of Policies and Insurance in Force . xxiv, xxxvi 

Table F — Claims by Death in 1880, with Ratios, etc. . . xxiv, xxx viii 

Table G — Ratio of Expenses to Mean Amount Insured . . xxv, xl 

Table H — Massachusetts Business, 1880 xxv, xlii 

DETAILED STATEMENTS. 

Massachusetts Life Insurance Companies .... 1-24 

Life Insurance Companies of other States .... 25-117 

Accident and Casualty Insurance Companies . . . 119-131 
Life and Accident Companies of other States, with Amount 

of Business done by Each 133-139 

List ok Agents and Sub- Agents authorized to act for Life and 

Accident Companies 141-147 



dommonwcoltl) of Jttctssacfyuaette. 



Insurance Department, 

Boston, Jan. 1, 1881. 

To the Honorable the Senate and House of Representatives. 

The volume presented herewith, Part II. of the Twenty- 
Sixth Annual Report of this Department, exhibits the finan- 
cial condition and business transactions of all Life, Casualty, 
and Accident Insurance Companies authorized in this Com- 
monwealth Dec. 31, 1880. As in the case of Companies 
writing fire and marine risks, the annual statements of those 
represented in this Part of the Report are submitted in sum- 
marized and detailed form, together with other information 
of interest and importance appertaining thereto, as the stat- 
utes require. 

Very respectfully, etc., 

JULIUS L. CLARKE, 

Insurance Commissioner. 



TWENTY-SIXTH ANNUAL REPOET 



OF THE 



INSURANCE COMMISSIONER 



PART II. 
LIFE, CASUALTY, AND ACCIDENT INSURANCE. 



Companies Retired and Remaining. 

The last Report presented the statements of thirty-six 
Life, Casualty, and Accident Insurance Companies author- 
ized to transact business in Massachusetts. Three have since 
retired ; and, of the thirty-three remaining, twenty-seven are 
doing a life, and six a casualty and accident, business. With 
these we include the Travelers' of Hartford, in both classifi- 
cations, life and accident ; and, adding the Massachusetts 
Hospital Life, now a Trust Company, there will be found 
thirty-four annual statements in the following pages. 

The Companies retired are the Hartford Life and Annuity, 
March 7, 1881 ; the Phoenix Life of Hartford, Dec. 28, 1880 ; 
and the National Life of the United States, Dec. 11, 1880, — 
the retirement of the Phoenix being its own voluntary act. 

The Hartford Life and Annuity. 

Mention was made in the last Report from this Depart- 
ment that the Hartford Life and Annuity Insurance Com- 
pany had been restricted to the transaction in Massachusetts 
of its regular life business, for which only it was admitted to 
the State. The restriction was compelled by its deliberate 
disregard of statutory requirement and obligation, particu- 
larly in connection with its cooperative annex, " Safety 
Fund Department," so called, though in many respects art- 
fully deceptive and less meritoriou's than the most ordinary 



viii REPORT OF THE 

cooperative scheme, and therefore in the worst sense repug- 
nant to the statute of 1872, chap. 325, sect. 7. 

In the process of evading this law, the enactment of 
which was the outcome of a decision of the Supreme Judicial 
Court (see Commonwealth v. Wetherbee, Mass. Reports, 
vol. 105, p. 149), the Company defiantly and boastingly pro- 
cured for its purpose the incorporation in this State of a 
branch, or agency, through which it might with impunity 
continue its illegal business. In this proceeding, advantage 
was taken of legislative generosity in granting special priv- 
ileges to associations, and societies organized under the laws 
of Massachusetts for educational, religious, charitable, and 
other purposes; but it was a bold assumption of privilege by 
the Company, never intended or even contemplated by the 
Legislature, and in no sense sanctioned by its enactment. 
Nor was the Company's course justified or palliated in the 
slightest degree by the subsequent investigation of its affairs 
before a Committee of the Connecticut Legislature, which 
resulted in settling nothing of practical importance, except, 
perhaps, that the subject-matter most involved was more of a 
judicial than of a legislative character. 

But, as the final result of its open and very manifest 
violation of the terms of its license and of the laws of this 
State, the Company's authorit}" to transact further business 
therein was wholly revoked. In justice to gentlemen named 
among the corporators of its Massachusetts Branch, and to 
any others, it is not supposable that all were aware of .the 
animus and purpose prompting the inception of this scheme. 
That such was the fact, personal explanations have given 
unqualified assurance. 

We need only to add, that when, in a spirit of liberality and 
beneficence, the Legislature extended special and important 
privileges and exemptions to the class of organizations re- 
ferred to, it was not for a moment supposed that any such 
advantage would be sought, or that its action would be made 
a cloak for the violation or evasion of other statutes. The 
very thought is preposterous. Were it even technically 
warranted, which is not the fact, then the sooner effectual 
modification or repeal follows, the better will it be for the 
protection of citizens of the Commonwealth. 



INSURANCE COMMISSIONER. ix 



The National of the United States. 
The authority of the National Life Insurance Company of the 
United States to transact business in Massachusetts has also 
ceased during the year. The reported questionable manipu- 
lation of its assets, in regard to which information was asked, 
but withheld by its officers, and the equally questionable 
procedure of pretended agents to frighten its policy-holders 
into a surrender of their claims for a fraction of their value, 
was a sufficient forfeiture of its right to do business. The 
"freezing-out " process adopted by the Company in this and 
other States is ojiscreditable and heartless in the extreme, and 
is damaging almost beyond estimate the interests of legitimate 
life insurance. Policy-holders have rights as well as Com- 
panies, and such rights are entitled to equitable recognition. 
But when the reasonable comities of business are ignored, and 
policy-holders literally robbed under cover of the flimsiest 
of technicalities and pretences, the provocation of distrust 
and condemnation should occasion no surprise. 

The Continental Life. 

In the last Report to the Legislature it was stated that the 
authority of the Continental Life of Hartford, Conn., to 
transact new business in Massachusetts had been revoked, 
" because of incorrect statements of its assets and liabilities, 
— the former having been largely overstated, and the latter 
considerably understated, — its actual condition showing such 
impairment as to compel the action reluctantly taken by this 
Department." Although the fullest measure of leniency and 
delay which propriety and courtesy could possibly warrant 
was extended in all good-will towards the Company, as both 
record and correspondence abundantly show, yet its repre- 
sentatives have busily promulgated the statement that the 
revocation was prompted by personal considerations, and that 
the Department has now come to see that it made a mistake ! 
It is only necessary to say that neither assertion bears the 
slightest shadow of truth. The revocation was demanded by 
law, and became all the more imperative upon the Company's 
own admission of incorrect returns. The treatment of its 
policy-holders, not a whit more justifiable than that adopted 

by the Knickerbocker, the Charter Oak, the National of the 
b 



x REPORT OF THE 

United States, the just exploded Universal Life, and some 
others, all of them heretofore excluded from the State at 
various dates, gave additional reason for retiring the Conti- 
nental. The only mistake, if such it can be termed, was 
delay in final action. 

An Encouraging Retrospect. 

It was stated in the last Report, that seven of the Life 
Companies from other States authorized in Massachusetts in 
1853 were still occupying the field, their aggregate business 
having increased in amount insured from $65,984,071 at the 
beginning of 1853 to $666,392,463 at the commencement of 
1880, — an increase of more than tenfold ; and in amount of 
admitted assets at corresponding dates, from $6,821,942 to 
$194,724,578, — an increase of more than twenty-eight-fold. 

These seven Companies were the Mutual Life, Manhattan, 
and United States of New York, the Connecticut Mutual, 
the Mutual Benefit of New Jersey, the Union Mutual of 
Maine, and the National of Vermont. 

Between 1870 and 1875, as was also stated, all these Com- 
panies, as shown by their returns, were carrying much 
greater amounts of insurance than at the beginning of 1880. 
All but two of them were largely in excess during the entire 
period of six years ; and one of these two, the Mutual Life, 
was carrying upwards of three millions more in 1874, and 
upwards of six millions more in 1875, than at the beginning 
of 1880 ; while the other, the National of Vermont, was con- 
siderably in excess during the last four of the six years 
named. An average aggregation of all the insurance carried 
by these seven Companies between 1870 and 1875 inclusive, 
shows an amount nearly thirty-five millions over that carried 
by them at the beginning of 1880. 

We refer thus to the business of these Companies because 
they are the only ones from other States now left that were 
authorized in Massachusetts in 1853, and because its results 
furnish so good an illustration of the wonderful growth, as 
well as periodical depression, of life insurance in America. 
Had annual statements been rendered from their first year 
of business, still greater contrasts would have appeared. 

Another matter of interest is presented in connection with 
the prediction made last year, that, under the re-action then 



INSURANCE COMMISSIONER. xi 

already inaugurated, these Companies, as well as others, 
might ere long exceed all previous measure of success. In 
partial fulfilment, the Mutual Life alone made a gain of 
more than seven millions in 1880, exceeding by almost a 
million any previous volume of outstanding insurance ; while 
the aggregate amount held by the seven Companies at the 
close of the year shows a net gain of nearly six and a half 
millions. It is a pleasure to know that other Companies are 
also making great gains, some of them having transacted a 
larger and more successful business during the last than in 
many previous years. 

While this condition of things is most hopeful and en- 
couraging, it should not be forgotten that only by a judi- 
cious and just administration of the great and important 
interests intrusted to them, can the present managers of 
American life insurance expect to escape the criticisms so 
deservedly uttered in condemnation of those who have 
proved recreant and treacherous to sacred obligations, and 
the betrayers of confiding patrons. From the record of 
Companies remaining in Massachusetts, now so thoroughly 
sifted, and apparently so free from discreditable association, 
there seem to come welcome assurances that in their ranks 
the disgraceful scandals which have blackened the history 
of so many unworthy competitors will find no repetition. 
That it may be so, no honest official, or anxious policy- 
holder, or trusting dependant, can offer a more appropriate 
invocation. As the official representative of an Insurance 
Department, we can only and heartily respond, Amen, and 
Amen. 

Interest Rates and Standards of Reserve. 

Perhaps few subjects connected with life insurance have 
been more fully and carefully considered than that involving 
the requirement of safe and equitable premium reserves. It 
is not proposed to renew the discussion here, but only to 
cite briefly a few facts and comparisons suggested by its 
history, which may have interest as showing that the Massa- 
chusetts standard has proved none too high to meet the 
exigencies of the business. 

During the speculative "boom" in life insurance, so nota- 
bly developed between 1864 and 1873, and during which so 



xii REPORT OF THE 

many American Life Companies sprang into existence, only 
to meet a disastrous and often disgraceful fate, there arose 
among numerous managers a very strong pressure for lower 
reserves. The four-per-cent standard long before adopted 
by Massachusetts, and subsequently accepted by some other 
States, was then, as now, the highest on this side of the 
Atlantic ; while several of the States had enacted a four and 
a half per cent, and some had none. It was claimed that a 
four-per-cent reserve was unnecessarily large, and in many 
cases oppressive, especially to the younger and weaker Com- 
panies, and that the then prevailing and probable future 
rates of interest fully warranted a reduction. 

Many of the advocates of a lower standard were honest in 
their convictions, and would not then or now encourage 
any legislation tending to weaken the security of life in- 
surance. Others there were, and not a few, among inter- 
ested insurance lobbyists, who, as subsequent events have 
shown, were over anxious to realize, by getting possession of 
assets which the higher reserve held for the benefit of the 
assured beyond the amount claimed as necessary security. 
For their purposes some of them would have forced the 
adoption of a five or even six per cent basis, and probably 
others would have been much better satisfied with none at 
all. 

So long as Massachusetts and some other States required 
a four-per-cent reserve, the alleged unnecessary excess of 
assets thus locked up could not be squandered nor con- 
fiscated. The conversion cf the " four-per-centers " came 
therefore to be regarded as the key to the situation. To 
secure such advantage by winning over these incorrigibles to 
the theory of lower reserves, an unrelenting pressure was 
made upon the first Convention of Commissioners and Su- 
perintendents of Insurance held in New York in May and 
June, 1871, and by adjournment in October of the same 
year. 

As a reminiscence of that gathering, it may be suggested 
that very few of those gentlemen who represented thirty 
States in these two sessions are now in charge of Insurance 
Departments ; but it is known that a majority (including 
some of the most persistent lobbyists) who then advocated 
reduction, now concede the equity and wisdom of a four-per- 



INSURANCE COMMISSIONER. 



xin 



cent standard. The convention was invited to a full and free 
interchange of views on matters of insurance, and the particu- 
lar subject here referred to became a topic of engrossing 
interest. But failure to secure unanimity of action was 
practical defeat. For improving the privilege vouchsafed in 
the invitation, and for his conscientious adherence to the 
higher basis, the Massachusetts representative was charged 
with "ill grace" and was otherwise almost mercilessly handled 
by some whose pet scheme was the half-matured and now 
generally condemned American Experience Table, at either 
four and a half, or five, or six per cent. Fortunately he has 
survived long enough to find the correctness of his position 
acknowledged and vindicated, and that, too, by most of his 
opponents of that day. 

In verification hereof, current history is replete with con- 
clusive data, which, were it necessary, might be cited in 
almost indefinite limit. One or two tabulations, however, 
may suffice. In order to disarm all possible implication of 
unfairness, and to present the most favorable exhibit in de- 
fence of lower reserves, we select the experience of twenty- 
seven Life Companies doing business in Massachusetts for 
five years consecutively (1876 to 1880 inclusive), taking for 
this purpose their mean amount of cash or income-producing 
assets, with interest received and accrued, also their mean 
amount of premium reserves, with interest to be accumu- 
lated thereon at four per cent, and the surplus remaining 
for dividends to policy-holders. Here are the results : — 





Cash Assets, 


Interest 


Rate 


Premium 


Four-per-cent 


Surplus Interest 
for Dividends. 


Year. 


Mean Amount. 


Received and 
Accrued. 


per 
cent. 


Reserve, Mean 
Amount. 


Interest to be 
accumulated. 


. ] Rate 
Amount. 

! p. ct. 


1876. 


$333,877,240 


$22,167,931 


6.64 


$306,599,463 


$12,263,979 


$9,903,952 


3.23 


1877. 


348,779,984 


22,042,732 


6.32 


318,883,979 


12,755,359 


9,287,373 


2.91 


1878. 


358,871,450 


21,219,954 


5.91 


325,752,489 


13,030,100 


8,189,854 


2.51 


1879. 


367,931,773 


21,376,536 


5.81 


331,813,723 


13,272,549 


8,103,987 


2.44 


1880. 


381,200,433 


20,472,387 


5.37 


341,618,119 


13,664,725 


6,807,662 


1.99 



This exhibit is significant and instructive. It will be ob- 
served, that, with income-producing assets increased nearly 
nine per cent since 1876, the rate per cent of interest received 



xiv REPORT OF THE 

and accrued has fallen more than one and a fourth per cent, 
and the surplus of interest for dividends to policy-holders in 
very nearly the same ratio, that for 1880 being only 1.99 
against 3.23 in 1876. With this steady decline year by year 
in interest rates, falling from the eight to twelve per cent 
claimed in 1871 by many lower-reserve advocates to 5.37 in 
1880, followed by corresponding decrease of surplus for divi- 
dends, it is not difficult to foresee that there may be immi- 
nent approach to impairment if present conditions continue. 
Policy-holders complaining of reduced dividends will find in 
these telling results substantial reasons for disappointed ex- 
pectation. 

Recognizing the ability of Life Insurance Companies for 
making money honestly, and paying their debts at maturity, 
as resting largely in our American rates of interest, an Ex- 
Superintendent of Insurance, long and most honorably iden- 
tified with its interests,* well said in his address before the 
Convention of 1871, that "a half per cent or one per cent 
is enormous in its potential power for the safety of Life 
Insurance Companies, after the lapse of a few years." What- 
ever of force the remark may have had in favor of lower 
reserves at a time when interest rates were almost fabulously 
excessive, the decade just closed has certainly given it poten- 
tial power in favor of higher standards, and especially so with 
ruling rates reduced to three and three and a half per cent 
on government and other first-class securities. Another 
significant fact in the same connection is, that the Companies 
are, in the main, only just beginning to feel the effect of 
declining rates ; for, as their older and more fortunate invest- 
ments expire, less favorable opportunities will be presented 
for the realization of large per cents. 

In exceptional cases, however, a small number of Com- 
panies whose investments were placed on long terms and in 
better times may continue for longer or shorter periods to 
show more favorable results; but with the present outlook, 
so suggestive of increasing taxation, of expenditures en- 
hanced by new and varied contingencies, and of other finan- 
cial burdens necessarily accruing, it must be apparent, that, 
even in exceptional instances, average interest accumulations 
can exceed only by a mere fraction, if at all, the four per 
cent required by law. 

* Hon. William Barnes of New York. 



INSURANCE COMMISSIONER. xv 

But in another, and properly the more pressing and prac- 
tical view, it may become a serious and vital question whether 
even a four-per-cent reserve will long suffice for the protec- 
tion of outstanding risks. It was stated in the Eighteenth 
Massachusetts Life Report, as far back as 1873, that accumu- 
lating evidence in favor of a four-per-cent standard was even 
then assuming such importance and strength, that probably 
nothing short of a radical and permanent advance in ruling 
interest rates would again prompt any reduction in premium 
reserves. Of the manifestly greater importance and strength 
of similar evidence now existing, as shown by facts here 
cited, the reader may easily judge. 

Insurance Written, Actual and Computed Reserves, 

Surplus, Etc. 

In connection with interest accumulation and reserve lia- 
bility, a brief review from another stand-point may furnish 
new and interesting information. Introductory thereto, we 
select the experience of the twenty-seven Life Companies 
which have done business in the State for five years consecu- 
tively, ending with 1880. The statement covers their volume 
of business, net assets (including capital where existing), 
computed premium reserves, with surplus and ratios, for each 
of the five years. The results are not introduced as being in 
any view a test of solvency, which they would not be, even 
if representing individual Companies, but merely as showing 
their average condition in the particulars named. 

The pretence that a high ratio of assets to liabilities is in 
all cases evidence of superior strength and soundness, is a 
fallacy which has been fully exposed in previous Reports. 
It is only when a decreasing ratio of net assets to computed 
premium reserve is close upon or likely to pass the line of 
impairment, that such a matter may assume any vital impor- 
tance. Among the Companies which have ceased to exist, 
very many were those having the largest ratios ; while oth- 
ers with the smallest have continued to grow in strength 
and usefulness, and are now counted with those most hon- 
ored and reliable. 

The exhibit herewith presented, and the data which foJlow, 
will show some of the remarkable fluctuations which Ameri- 
can life insurance has experienced in its periods of greatest 
prosperity and adversity. 



XVI 



REPORT OF THE 



Year. 


No. of 
Policies. 


Amount Insured. 


Net Assets, or 

Actual Prem'm 

Reserve. 


Net Present 
Value of Poli- 
cies, or Com- 
puted Premium 
Reserve. 


Surplus of 
Net Assets. 


Ratio. 


1876 . 

1877 . 

1878 . 

1879 . 

1880 . 


574,346 
558,783 
544,954 
555,919 
572,669 


$1,485,943,302 
1,423,100,271 
1,368,162,162 
1,374,946,179 
1,418,266,505 


$349,303,715 
360,358,946 
367,811,521 
376,783,675 
394,352,192 


$314,393,981 
323,373,977 
328,131,001 
335,496,446 
347,892,539 


$34,909,734 
36,984,969 
39,680,520 
41,287,229 
46,459,653 


111.10 
111.44 
112.09 
112.31 
113.35 



This aggregation of the business of twenty-seven Companies 
for the last five years, with the business of all the Companies 
previously represented in the State, as shown at intervals by 
corresponding ratios dating back to 1865, discloses some sug- 
gestive comparisons. For instance, their average ratio of 
computed premium reserve to net assets for 1865 was 
134.47, which, three years later, dropped to 121.80; in 1870, 
to 113.16; and in 1873, to 108.23, — the latter the smallest 
average ratio ever held by Companies occupying the Massa- 
chusetts field. 

This heavy decrease may be largely accounted for by the 
fact that so many newly incorporated Companies entered the 
field during and immediately subsequent to the war, all hav- 
ing in their first years a large surplus of assets, w r ith com- 
paratively small liability. But, with the enormous volume 
of business so rapidly and so easily acquired in those years, 
came, of course, a corresponding growth of reserve liability, 
which, coupled in too many cases with bad management and 
extravagant expenditure, quickly absorbed a large ratio of 
net surplus. 

How far the almost startling reduction in surplus of net 
assets, amounting in average ratio to more than seventy- 
five per cent between 1865 and 1873, was influenced by the 
last-named causes, we will not presume to say. That they 
were a power in such direction the unfortunate experiences 
of that period -leave no question. But from its unwelcome 
record justice requires unequivocal exculpation of those 
Companies, which, through wise and conservative manage- 
ment, have maintained their integrity and preserved an 
honest administration, under whose auspices life insurance 
does insure in its best and fullest sense. 



INSURANCE COMMISSIONER. 



xvn 



As shown by statistics already cited, there has been a 
steady and encouraging advance in these last years, the ratio 
of net surplus for 1880 indicating a clear gain of more than 
sixty per cent since 1873. And here it is worthy of mention 
that the Companies now remaining in the State show, indi- 
vidually, a much higher average than when aggregated with 
those which have retired. An illustration appears in the 
comparative average ratios of net assets to computed reserves 
held within the last five years by all the Companies com- 
bined, and those in the same years by the twenty-seven now 
remaining : viz., — 



Year. 


All Companies 
Combined. 


Ratio. 


Companies still 
Remaining. 


Ratio. 


1876 


34 


110.24 


27 


111.10 


1877 .'../. 


31 


111.10 


27 


111.44 


1878 


31 


111.81 


27 


112.09 


1879 


30 


112.11 


27 


112.31 


1880 ..... 


27 ' 


113.25 


27 


113.35 



With these general average ratios, it may be of interest to 
know, that in their separate or Company classifications their 
range for 1880 is from 103.91 to 316.25, not materially differ- 
ing from that shown by the same Companies in each of the 
five years introduced. 

But a more noticeable diversity is found in earlier years. 
Going back, for example, to 1873, when the average ratio 
reached its lowest figure, 108.23, it will be found that eighteen 
Companies were in that year below, and twenty-three above, 
the average; the former ranging from 100.21 to 107.83, and 
the latter .from 108.54 to 181.29. The Company having the 
last-named ratio, which had been reduced from 224.34 in 1871, 
and from 403.07 in 1870, had, with' its highest ratio, more 
than four dollars in hand w r ith which to pay each dollar of its 
reserve liability. Yet this Company was one of the shortest 
lived of the many which have disappeared from the insurance 
world, thus showing how utterly fallacious was the pretence 
made in its behalf, and so often urged by insurance represent- 
atives, that a high ratio of assets to liabilities is an infallible 



xviii REPORT OF THE 

guarantee of soundness and safety, other equally important 
requirements being too frequently ignored. 

Had the Company referred to maintained even a reasonable 
measure of prudence and integrity, it might have attained 
growth and prosperity ; but its administration was prodigal 
and rotten. Even its average annual ratio of current ex- 
penses was up to 64.95 during its entire existence of nearly 
five years, only six others out of the seventy-two authorized 
in Massachusetts between 1866 and 1873 having a higher 
one. Failure and dissolution were, of course, inevitable. 
Not only was it so with each of these particular Companies, 
but such was the fate of every single one of the seventy-two, 
which, at that period, exhibited the highest surplus ratio ; 
while, significantly enough, all the survivors of to-day were 
among those having the lower. 

But it is not the purpose of this reference to detract a single 
iota from the financial prestige so properly and deservedly 
appertaining to large surplus. It is introduced simply and 
only as a reminder that other conditions are quite as essen- 
tial to solvency and security : so, therefore, there should be 
no misconception or misuse of this suggestive history. The 
real and important lesson underlying the whole has been often 
presented and exemplified, and its teachings have not been 
disregarded by honest and faithful managers. Many such 
there are who have not failed to interpret correctly, and with 
practical advantage, its ominous handwriting upon the wall : 
mismanagement, extravagance, and dishonest greed, — the de- 
stroyer of cherished hopes, the robber of widows and orphans, 
and the bane and curse of life insurance. 

Accident, Casualty, and Fidelity Insurance. 

Accident Insurance. — The Travelers' of Hartford, the first 
Company to perfect in this country a scientific system of 
special insurance of life and limb against accidents, has had 
only two authorized competitors in Massachusetts for very 
many years. It re-insured one of these, the Railway Passen- 
gers', in 1878. The other, the Fidelity and Casualty of New 
York, formerly the Knickerbocker Casualty, still remains, 
and, under the provisions of chap. 130 of the Acts of 1879, 
is at present restricted here to its accident business only. 

Incorporated in 1863, and admitted into this State in the 



INSURANCE COMMISSIONER. xix 

following year, the business of the Travelers' from the first 
has shown increasing volume and success, thus indicating a 
large and popular demand for such insurance. In its earlier 
history, several other Companies chartered for the same pur- 
pose proved unfortunate, and withdrew. Now, however, a 
foreign Company, the Accident Insurance of North America, 
of Montreal, Can., proposes to compete for a share of the 
patronage, and, having complied with legal requirements, 
is hastening arrangements to commence business. 

In the mean time, it is only right that persons desiring this 
class of insurance should be cautioned against irresponsible 
and unauthorized associations from other States which are 
practising their impositions in various sections of the Com- 
monwealth ; notably, one from New York, and another from 
Indiana, both financially unreliable and unworthy of confi- 
dence. For self-protection, every person so approached has 
perfect right to see the agent's certificate of authority from 
the Insurance Department. 

Casualty Insurance. — In distinction from accident insur- 
ance of life and limb, four Companies now authorized in the 
State insure other casualty risks, — two against steam-boiler 
explosions, and the others against breakage of plate-glass, 
etc. Their annual statements will be found in subsequent 
pages of this Report. It is sufficient to say of the present 
standing of these Companies, that personal inquiry and investi- 
gation show them all able to meet the fullest measure of 
liability which they assume. If in casualty underwriting 
as much diligence were used in honorable competition as in 
the cultivation of foolish jealousies and petty rivalries, all 
interests would be materially propitiated and advanced. 

Fidelity Insurance. — The last two or three years have 
developed a growing demand for this kind of insurance, 
chiefly among banking and other moneyed institutions, and 
to some extent among mercantile and other business houses. 
No Company, however, has thus far been authorized to write 
such risks in this State. 

A former Legislature granted a charter for a local Com- 
pany with a capital of $500,000 ; but, in consequence of fail- 
ure to secure so large an amount within the statute time, the 
charter was extended, with a reduction to 1300,000. Even 
this was not secured, and the charter has now lapsed. Pend- 



xx REPORT OF THE 

ing this condition of things, a law enacted by the present 
Legislature permits the transaction of fidelity or guarantee 
insurance with a paid-up capital of $200,000. 

The Fidelity and Casualty Insurance Company, changed 
in name from the Knickerbocker by an amendment of charter 
in 1880, which gave it permission to write this class of risks 
also, is an applicant for authority to add the same to its acci- 
dent business in this State, so soon as its proposed increase 
of capital to $250,000 is paid up to the required amount. 
Meanwhile the Guarantee Company of North America, of 
Montreal, Can., which is also an applicant for admission to 
the State, is completing its arrangements for the same branch 
of business. 

Premium Notes, Deferred and Uncollected Pre- 
miums, Amounts paid for Ceased and Changed 
Policies, etc. 

An exceedingly proper and necessary requirement is that 
calling, at reasonable intervals, for detailed statements of the 
data expressed in this caption. It is a specific provision of 
law, and involves annual compliance ; but under the discre- 
tion permitted by the same statute, and especially in view of 
the great labor which would be imposed upon many Com- 
panies, the Department has asked for such data only at con- 
venient periods. 

The request covering such returns for 1880 has been made 
of every Company doing business in the State, not one being 
excused. The law is eminently proper and just ; and it was 
right to ask compliance in the manner indicated, as thereby 
expense to Companies, and the publicity of official examina- 
tions at their offices, are avoided. These particular returns 
were wanted, not for publication, but simply and only for the 
private use of the Department in aiding an intelligent verifi- 
cation of annual statements. That work is now in progre— : 
and already the Department is enabled, in some cases, to 
make important corrections in each of the accounts named, 
in which, in many instances, errors so easily and almost 
unavoidably occur. 

In the experience of this Department, erroneous state- 
ments of premium notes in force, and of deferred and uncol- 
lected premiums, all credited in admitted assets, have, when 



INSURANCE COMMISSIONER. xxi 

corrected, resulted in a few instances in temporary impair- 
ment, and in some others to a very near approach to such 
condition. This fact is of itself a sufficient reason for the 
requirement, from which it would not be right to excuse 
some and hold others. So, therefore, every Company, 
whether correct or possibly incorrect in rendering these 
items, should be glad for its own benefit to have them 
'officially examined and verified whenever necessary and 
convenient. 

Reference has been made to the time and labor required, 
for the preparation of detailed statements of such data. 
Their annual requirement would be burdensome, especially 
with the larger Companies, and should not be imposed. But, 
in view of facts and conditions already indicated, ever}?- Com- 
pany, however confident of its own accuracy, can hardly help 
admitting the propriety and importance of such service, at 
least once in three or four years. At such intervals it might 
easily be made to meet, concurrently, the request of any and 
all Departments desiring the information for their own assur- 
ance. Beyond such verification, no necessity could .arise, 
unless in some very exceptional case. 

Mutual Aid and other Beneficiary Associations. 
Under the legislation of 1880, these associations are for 
the first time making returns to the Insurance Department. 
It was intended to have included in this Part of the Annual 
Report a summary of their statements, but the difficulty of 
securing complete and uniform returns from all has rendered 
it necessary to delay such publication for a special report. 
On their part there exists very generally a commendable 
willingness and desire to comply with the law, both for their 
own and the interests of all concerned. But so widely at 
variance are their methods of business and other contingent 
conditions, that uniformity in returns has not been an easy 
matter. For this reason, the few which have not yet reported 
have had permission for delay, till some form of blank better 
adapted for their use can be prepared. This will soon be ready, 
and the remaining returns will then be completed. These 
and other difficulties were foreseen from the first, but present 
experience will secure remedy and promptness in future. 
While a large number of beneficial and mutual- aid organi- 



xxii REPORT OF THE 

zations are honestly and legally transacting their business in 
the State, and are in good faith complying with its laws, it 
becomes an official duty to caution the public against many 
more which have no authority to solicit membership within 
its limits. Most of the latter are from Pennsylvania and 
two or three western States, all of them notoriously fraudu- 
lent, more so, if possible, than the recently exploded " Ladies' 
Deposit Bank " in Boston, and equally as deserving of expos- 
ure by the newspaper press, which would thereby render the 
public a material benefit. Those who innocently or otherwise 
act as agents of these unauthorized concerns are practically 
obtaining money under false pretences, and are subject to 
arrest and indictment on complaint of any citizen, the inform- 
ant in such cases being entitled, under the law of the State, 
to one-half of the fine imposed, the latter not exceeding five 
hundred dollars for each offence. 

Official Examinations. 

As a matter of public interest and record, it may be stated 
that two of the oldest and largest American Life Companies 
have recently passed the, ordeal of a searching examination, 
each occupying several months, commencing in the autumn 
of 1880 and closing in the present year. One was the Mu- 
tual Benefit Life Insurance* Company of New Jersey, the 
examination of which was made conjointly by the Insurance 
Departments of Massachusetts, Ohio, and New Jersey ; that 
of the other, the Mutual Life of New York, was made under 
the direction of the New York Department, the Actuary of 
the Pennsylvania Department participating in the service 
by the Company's request. 

Both examinations were voluntarily invited, and were 
thorough and exhaustive. With the official reports of both, 
the public is already more or less familiar. In the results 
communicated, the policy-holders in both Companies have the 
assurance that their rights and interests will receive full and 
equitable protection. 

In the case of the Mutual Benefit Life, of which we can 
speak, of course, from personal knowledge, it is no invidious 
statement that the examination, the first officially made dur- 
ing its long and successful history, developed an exception- 
ally satisfactory condition of affairs. The fact is all the more 



INSURANCE COMMISSIONER. xxiii 

gratifying in view of the great financial crises and other 
depressing experiences which have so often and so disas- 
trously affected the interests and threatened the prospects of 
life insurance. Under the administration of this and other 
Companies which, with honorable record, have successfully 
braved similar experiences, it is believed that the peace and 
welfare of millions of dependants will be sacredly conserved. 

Recent Legislation. 

The new non-forfeiture law of 1880, chap. 232, went into 
effect at the commencement of the present year ; and policies 
issued thereafter are subject to its conditions. The old law, 
chap. 186 of 1861, ceased at the same time to have further 
application, except to policies previously issued. A large 
number of policies extended under the latter have, in 
numerous cases, many years yet to run ; and many more will 
be added for longer or shorter terms, as lapses occur among 
those outstanding at the close of 1880. The new statute 
was fully considered and explained in the last Report, and 
nothing more may be suggested till its results appear. Valu- 
ation Tables in conformity with its provisions are being 
specially prepared, both for the use of Companies subject 
thereto, and for that of the Department. 

The reduction by the present Legislature of the excise tax 
from one-half to one-quarter of one per cent, will materially 
relieve the burden imposed upon Life Companies by the law 
of 1880, though it will not establish the equity of taxation 
based on net values. The tax, however, will be borne 
directly or indirectly by the policy-holders ; and its amount 
will not be likely to diminish by the enactment of further 
retaliatory legislation, as already proposed in States now 
without law to enforce in return this particular tax. 

The Life Business of 1880 v. 1879. 
For details of the business of 1880 transacted by Life 
Companies authorized in the State at the close of the year, 
reference may be had to the various tabulations and state- 
ments which appear in subsequent pages. The following, 
however, is a comprehensive summary of the business of the 
same Companies, as compared with that of 1879, and as in- 
dicated in the tabulations cited : viz., — 



xxiv REPORT OF THE 

Table A. — Admitted gross assets 1 , $402,936,1 62 ; increase, 
817,342,302; gross liabilities, $355,651,706; ratio of assets 
to liabilities increased from 112.25 to 113.29, — in Massachu- 
setts Companies from 116.66 to 119.58, and in all others 
from 111.87 to 112.77. Surplus as regards policy-holders, 
$47,284,456 ; increase, $4,165,305, — of which nearly a million 
was in Home Companies. It is a noticeable fact, that, while 
the aggregate income of these twenty-seven Companies shows 
an increase of less than $200,000, their expenditures indicate 
a decrease of more than two and a quarter millions. 
. Table B. — Net assets or actual premium reserve, $394,- 
352,192 ; computed premium reserve, $347,892,539 ; ratio of 
net assets to premium reserve increased from 112.14 to 
113.35, — in Massachusetts Companies from 114.20 to 117.16, 
and in all others from 112.31 to 113.04. 

Table C. — Real estate, stocks, and bonds owned by the 
Companies, $172,000,140, appreciation in 1880, nearly eleven 
millions, with per cent to gross assets increased from 42.06 to 
42.95. Loans on mortgages and collaterals, $180,288,737, an 
increase of $4,041,237 over the amount carried by the same 
Companies in 1879, with present per cent to gross assets 
reduced from 45.98 to 45.04. Premium notes, $20,032,321, a 
decrease in per cent to gross assets from 5.67 to 5.01. These 
several securities alone, amounting to nearly three hundred 
and seventy-five millions, constitute more than nine-tenths 
of the admitted assets, and exceed by almost twenty-five 
millions the entire reserve liability of the Companies repre- 
sented. 

Table D. — Insurance in force Dec. 31, 1880 : policies, 
572,669; amount, $1,418,266,505, — showing a net gain by 
the same Companies of 16,750 policies, and $43,320,326 of 
insurance, over 1879. This is an encouraging development, 
as is also the fact that the aggregate net loss of more than 
seven millions in 1879 is succeeded by the handsome gain in 
1880. 

Table E. — Life policies in force, $1,166,517,567, reserve, 
$258,235,137; endowment, $213,136,646, reserve, 885,551,- 
712 ; all others, $38,612,292, reserve, $4,682,810. These are 
substantially in the same proportion as shown in the previous 
year, the endowment insurance still covering about three- 
twentieths of the whole amount. 



INSURANCE COMMISSIONER. xxv 

Table F. — Death-claims, 7,194; amount, $20,602,783,— 
an increase of 307 in number, and $1,361,344 in amount, as 
reported by the same Companies in 1879. With this increase, 
the number of claims to mean number of policies, and the 
amount of loss to mean amount insured, show a correspond- 
ing advance in ratio ; the former for 1880 being 1.27, and the 
latter 1.47. The range in number and amount of claims, 
aggregated by Companies, shows one to have had only a 
single loss of 1500, and the largest number by any one Com- 
pany, 1,174, covering claims amounting to more than four and 
a half millions. 

Table G. — Expenses to mean amount insured, the former 
$10,051,002, the latter $1,396,607,615, and the ratio .72, an 
increase from .67 in the same Companies for 1879. 

Table H. — Massachusetts business : amount written, 
$12,832,389, an increase of more than two and a half millions 
over 1879, and larger in amount than in any year since 1876, 
in which year it reached $12,841,144. The premiums col- 
lected on the Massachusetts business in 1880 amounted to 
$3,909,353, and claims paid, to $3,252,983. 



STATISTICAL TABULATIONS. 



xxvm 



REPORT OF THE 



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XXIX 



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MASSACHUSETTS 

LIFE INSURANCE COMPANIES. 



Detailed Statement of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1880. 



2 



MASSACHUSETTS LIFE 



[Dec. 31, 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



BERKSHIRE LIFE INSURANCE COMPANY OF PITTSFIELD. 

[Incorporated May, 1851. Commenced business Sept. 3, 1851.] 

Paid-up Capital, $25,500. 

William R. Plunkett, President. James W. Hull, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company, 
as discount on claims paid in advance 
for rents of company's property . 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 



Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for mature endowments and additions 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash surrender values, including reconverted additions 
applied in payment of premiums 
dividends paid policy-holders, $11,426.89; applied 
in payment of premiums, $68,988.56 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees 



$383,425 51 

176,123 61 

6,659 21 

663 25 

15,418 46 

$582,290 04 
3,369,251 98 

$3,951,542 02 



$100,449 28 

768 32 

122,333 44 

5,891 56 

$229,442 60 
33,529 27 

11,555 49 

17,600 17 

80,415 45 
1,830 27 

$374,373 25 
1,785 00 
30,918 19 
20,350 96 
3,807 00 
17,631 84 
14,714 75 



1880.] 



INSURANCE COMPANIES. 



Cash paid for rent . 

for advertising 
for incidentals . 
for depreciation 

Total disbursements . 

Balance 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule 
Cash in company's office . 
deposited in bank . 
Agents' ledger balances . 
Office furniture, etc. 



eB) 



Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



Other Assets. 
Interest due and accrued ....... 

Rents due and accrued ....... 

Market-value of stocks and bonds over cost 

Uncollected premiums on policies in force $24,349 31 

Deferred premiums on policies in force . 28,202 61 



Total $52,551 92 

Deduct loading (10 per cent) . . . 5,255 19 
Net am't uncollected and deferred prems. 

Total assets per company's books .... 



Items not admitted. 



Office furniture, etc. 
Agents' balances 
Total 

Total admitted assets 



$3,564 77 
25,932 59 



Liabilities. 
Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Deduct net value of re-insured risks .... 

Net re-insurance reserve 



$4,643 25 

4,456 81 

10,355 84 

17,860 16 

$500,897 05 

$3,450,644 97 



$466,673 09 

1,737,368 59 

138,410 00 

192,668 11 

806,522 50 

950 76 

78,554 56 

25,932 59 

3,564 77 

$3,450,644 97 
9,302 46 

$3,441,342 51 



$46,937 22 

563 75 

9,790 00 



47,296 73 
$3,545,930 21 



29,497 36 

1,516,432 85 



$3,130,222 00 
12,898 00 

$3,117,324 00 



MASSACHUSETTS LIFE 



[Dec. 31, 



Premium obligations in excess of net values of their 
policies 

Death losses and matured endowments in 

process of adjustment .... $22,454 00 

Claims resisted by the company . . 10,000 00 
Total policy claims .... 

Unpaid dividends of surplus due policy-holders 

Ledger accounts 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $192,603 86 

received during 1880 . 29,886 68 

Total 

Used in payment of losses and claims . $6,659 88 
of surrendered policies, 

and voided by lapse . 11,555 49 
of dividends to policy- 
holders . . . 1,830 27 
Redeemed by maker in cash . . . 9,776 79 
Total ...... 



.1,577 94 



$32,454 00 
6,259 48 
1,482 33 

$3,169,097 75 
347,335 10 

$3,516,432 85 



$222,490 54 



Balance note assets Dec. 31, 1880 .... 

Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879. 

Number. 

Whole-life policies 

Endowment policies ..... 

All other policies 

Reversionary additions 



29,822 43 
$192,668 11 



Amount. 

2,724 $6,148,940 00 

1,765 3,464,277 00 

1,786,600 00 

58,816 00 



884 



New Policies issued in 1880. 



Whole-life policies 
Endowment policies 



Old Policies revived during the Year. 

Whole-life policies 44 

Endowment policies ...... 17 

Policies extended under Act of 1861 . . .263 
Additions by dividends - 



Total number and amount 



446 1,065,301 00 

394 754,216 00 

111,500 00 

39,000 00 

506,500 00 

5,750 00 

6,537 $13,940,900 00 



Policies ceased to be in Force during the Year. 

Terminated by death 51 $100,597 00 

by maturity 62 124,670 00 

by expiry 235 501,450 00 



1880.] 



INSURANCE COMPANIES. 



Terminated by surrender . 
by lapse 
by transfer . 

Not taken 



Total terminated 



Number. Amount. 

90 $224,553 00 

263 506,500 00 

61 150,500 00 

193 402,600 00 



955 $2,010,870 00 



Policies in Force Dec. 31, 1880. 



Whole-life policies . 
Endowment policies . 
All other policies 
Reversionary additions 

Totals • 



2,866 6,571,263 00 

1,883 3,716,274 00 

833 1,581,750 00 

60,743 00 



5,582 $11,930,030 00 



United States bonds, 6s . 
15 shares Pittsfield National Bank . 



Schedule A. 

Securities held as Collateral. 

Market-value. 

$5,360 00 
2,100 00 



164 " Pittsfield Gas Company . 

50 " Boston and Albany Railroad 

150 " Adams National Bank 

15 " Pittsfield National Bank . 

235 " American Express Company 

50 " New York C. and H. R. R.R 

50 " Third Nat'l Bank, Springfield, 

7 " Agricultural N'l B'k, Pittsfield, 
United States bonds, 5s . 



22,960 00 
7,500 00 

18,750 00 
2,100 00 

15,040 00 
7,500 00 
6,500 00 
1,470 00 

81,300 00 

$170,580 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds .... $562,292 50 

300 shares Agricultural National Bank . 60,000 00 

468 " Pittsfield National Bank . . 63,230 00 

250 " Adams National Bank . . 31,250 00 

North Adams water bonds . . . 43,000 00 

Berkshire county loan .... 46,750 00 



Amount loaned. 

$4,000 00 
1,300 00 

19,000 00 
5,000 00 

25,110 00 

3,000 00 

1,000 00 
80,000 00 

$138,410.00 



Market-value. 

$558,513 75 

63,000 00 

65,520 00 

31,250 00 

47,300 00 

46,950 00 



,522 50 $812,533 75 



MASSACHUSETTS LIFE 



[Dec. 31, 



JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY OF 

BOSTON. 

[Incorporated April 21, 1862. Commenced business Dec. 27, 1862.] 

Stephen H. Rhodes, President. George B. Woodward, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property 
for profits on bonds and stocks sold 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



$336,198 33 

138,368 98 

3,973 64 

1,051 86 

9,862 57 

9,400 57 

$498,855 95 
2,544,446 11 

$3,043,302 06 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse .... 

Cash surrender values, including reconverted additions ap- 
plied in payment of premiums 
dividends paid policy-holders, $6,195.43; applied in 
payment of premiums, $36,838.52 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for furniture and office fixtures 

for advertising ..... 

for incidentals ...... 



$163,469 46 

9,100 16 

86,322 89 

7,530 06 

$266,422 57 
1,244 93 

26.709 15 

10,764 99 
21,641 52 

43,033 95 

13,809 97 

$383,627 08 

62,627 27 

48,751 19 

21.710 37 
35,578 71 
14,362 11 
10,648 90 

603 26 

1,105 17 

18,957 66 

Total disbursements $597,971 72 

Balance $2,445,330 34 



1880.] 



INSURANCE COMPANIES. 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 
on company's policies assigned as collateral 

Premium notes or loans on policies in force 

Par value of stocks and bonds owned (schedule B) 

Cash in company's office 
deposited in bant 

Bills receivable 

Agents' ledger balances 

Personal loans . 

Commuted commissions 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



$256,648 19 

1,232,246 67 

32,800 00 

12,860 00 

194,946 10 

669,700 00 

423 13 

27,300 51 

2,027 98 

11,609 09 

768 67 

4,000 00 

$2,445,330 34 
12,998 19 

$2,432,332 15 



Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Market-value of stocks and bonds over par 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total ..... 

Deduct loading (20 per cent) . 
Net am't uncollected and deferred prems 

Total assets per company's books 



$12,893 00 
25,062 49 

$37,955 49 
7,591 10 



$43,883 84 

1,490 00 

81,433 25 



30,364 39 
. $2,589,503 63 



Items not admitted. 
Commuted commissions .... $4,000 00 



Agents' balances 
Loans on personal security 
Bill receivable . 
Total 

Total admitted assets 



11,609 09 

768 67 

2,027 98 



18,405 74 
$2,571,097 89 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $2,349,451 00 
Deduct net value of re-insured risks .... 2,217 00 



Net re-insurance reserve 



$2,347,234 00 



8 



MASSACHUSETTS LIFE 



[Dec. 31, 



Death losses and matured endowments in process of ad 

justment 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance .... 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $222,250 30 

received during 1880 . 16,755 71 

Total 

Used in payment of losses and claims . $16,630 22 
of surrendered policies, 

and voided by lapse . 10,764 99 
of dividends to policy- 
holders . . . 13,809 97 
Redeemed by maker in cash . . . 2,854 73 
Total 



$32,730 00 

19,595 53 

3,718 77 

$2,403,278 30 
167,819 59 

$2,571,097 89 



$239,006 01 



Balance note assets Dec. 31, 1880 .... 

Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879. 



Whole-life policies 
Endowment policies 
All other policies 



44,059 91 
$194,946 10 



New Policies issued in 1880. 



Whole-life policies . 
Endowment policies 
All other policies 



Old Policies revived during the Year. 



Whole-life policies . 
Endowment policies 

Total number and amount 



Number. 


Amount 


3,254 


$6,724,781 00 


1,495 


1,859,383 00 


1,616 


3,338,550 00 


. 357 


453,278 00 


. 156 


218,091 00 


. 376 


751,170 00 


ar. 
9 


14,500 00 


1 


1,500 00 



7,264 $13,361,253 00 



Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity 

by expiry 

by surrender 

by change 
Not taken 

Total terminated 



. 65 


$153,561 00 


. 85 


101,715 00 


. 509 


1,017,320 00 


. 112 


198,236 00 


. 382 


776,637 00 


. 72 


135,200 00 



1,225 $2,3S2,669 00 



1880.] 



INSURANCE COMPANIES. 



Policies in Force Dec. 31, 1880. 



Whole-life policies . 

Endowment policies 

All other policies . . v 

Totals 
Prudential policies in force 



Number. Amount. 

3,178 $6,278,563 00 

1,456 1,814,321 00 

1,405 2,885,700 00 



6,039 $10,978,584 00 
30,702 3,139,018 00 



Schedule A. 

Securities held as Collateral. 

Market-value. 

Ottawa, Osw., and Fox River Val. R.R.b'd, $1,250 00 

205 shares American Whip Company . 20,500 00 

200 " Chic, Burl., and Quincy R.R. 36,000 00 



Amount loaned. 

$800 00 
12,000 00 
20,000 00 



$57,750 00 $32,800 00 



Schedule B. 

Stocks and Bonds owned by 



United States bonds 
Massachusetts state bonds 
Cuyahoga county (O.) bonds 
Marion county (Ind.) bonds 
Lynn city bonds 
Salem city bonds 
Bath city bonds 
Cambridge city bonds 
Albany city bonds . 
Cincinnati city bonds 
Chicago city bonds . 
Evansville city bonds 
Cleveland city bonds 
St. Louis city bonds 
Indianapolis city bonds 
Columbus city bonds 
Fall River city bonds 
Toledo city bonds . 
Philadelphia, Wil., and Bait. R.R. bonds 
Chicago, Burl., and Quincy R.R. bonds 
Ogdensburg and Lake Champ. R.R. bonds 
Vt. Cent, and Vt. and Can. R.R. bonds 
Central Vermont Railroad bond 
Illinois Grand Trunk Railroad bonds 
Michigan Central Railroad bonds 
Grand River Valley Railroad bonds 
Cedar Rapids and Missouri R. R.R. b'ds, 
Jackson, Lansing, and Saginaw R.R. b'ds, 
2 



the Company. 

Par value. 

$20,000 00 

100,000 00 

10,000 00 

10,000 00 

14,000 00 

5,000 00 

2,000 00 

2,000 00 

5,000 00 

20,000 00 

10,000 00 

5,000 00 

20,000 00 

11,000 00 

13,000 00 

15,000 00 

11,000 00 

10,000 00 

7,000 00 

25,000 00 

5,000 00 

5,000 00 

1,000 00 

20,000 00 

5,000 00 

10,000 00 

15,000 00 

10,000 00 



Market-value. 

$20,300 00 

116,250 00 

10,250 00 

10,500 00 

. 15,000 00 

5,450 00 

2,055 00 

2,160 00 

5,650 00 

25,550 00 

11,275 00 

6,600 00 

21,250 00 

12,430 00 

14,040 00 

15,820 00 

12,925 00 

10,000 00 

7,420 00 

30,700 00 

5,075 00 

3,750 00 

750 00 

23,200 00 

5,725 00 

11,250 00 

17,550 00 

11,125 00 



10 



MASSACHUSETTS LIFE 



[Dec. 31, 



Boston and Providence Railroad bonds 
Boston and Albany Railroad bonds . 
Nashua and Rochester Railroad bonds 
Lowell and Andover Railroad bonds 
Old Colony Railroad bonds 
Eastern Railroad bonds . 
Burlington and Mo. River R.R. bonds 
Boston and Maine Railroad stock 
Vermont and Canada Railroad stock 
New Eng. Mortgage Security Co. 's bonds, 
Newton and Watertown Gas-L. Co.'s b'ds, 
100 shares New England National Bank 

50 " Tremont National Bank . 
100 " Continental National Bank 

35 " Boylston National Bank . 
100 " Washington National Bank 

22 " State National Bank 



Par value. 

$25,000 00 
95,000 00 
25,000 00 
20,000 00 

1,000 00 
20,000 00 
15,000 00 

5,000 00 
12,000 00 

5,000 00 
20,000 00 
10,000 00 

5,000 00 
10,000 00 

3,500 00 
10,000 00 

2,200 00 



Marketrvalue. 

$31,250 00 

115,587 50 

25,250 00 

22,400 00 

1,145 00 

20,950 00 

13,275 00 

7,300 00 

1,440 00 

5,250 00 

20,200 00 

15,100 00 

6,050 00 

11,525 00 

3,998 75 

13,700 00 

2,662 00 



$669,700 00 $751,133 25 



MASSACHUSETTS HOSPITAL LIFE INSURANCE COMPANY 

OF BOSTON. 

[Incorporated Feb. 24, 1818. Commenced business 1823.] 

Paid-up Capital, $500,000. 

John L. Gardner, President. J. C. Braman, Secretary. 

Income. 

Total premium income $75,323 37 

Cash received for interest on stocks, bonds, and loans . 58,549 54 

for commissions on trusts .... 69,806 71 

Total income $203,679 62 

Disbursements. 

Cash paid to annuitants $40,834 10 

for dividends to stockholders .... 50,000 00 

to Massachusetts General Hospital . . . 10,000 00 

for salaries of officers and office employes . 21,980 00 

for taxes and fees 8,399 42 

for rent 2,500 00 

for incidentals 1,085 93 

Total disbursements $134,799 45 

Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate $6,312 60 

Loans on mortgage of real estate (first liens) . . . 660,251 41 



1880.] 



INSURANCE COMPANIES. 



11 



Loans on collateral security 

Cost value of stocks and bonds owned 

Cash deposited in bank . 



$220,941 00 

154,027 29 

61,567 46 



Other Assets. 

Interest due and accrued .... 
Market-value of real estate over cost 

of stocks and bonds over cost 

Total assets per company's books 



$16,889 07 
2,174 34 
9,505 52 

$1,131,668 69 



Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Dae and unpaid on annuity claims . 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities .... 



Exhibit of Policies. 



Policies in force Dec. 31, 1880 
Annuities in force Dec. 31, 1880 



$304,177 00 
2,689 16 

$306,866 16 
824,802 53 

$1,131,668 69 



Number. Amount. 

5 $13,000 00 
134 298,666 00 



MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY 

OF SPRINGFIELD. 

[Incorporated May 15, 1851. Commenced business Aug. 1, 1851.] 

E. W. Bond, President. John A. Hall, Secretary, 



Income. 

Total premium income $781,373 22 

Cash received for interest on stocks, bonds, and loans . 310,092 23 

for interest on other debts due the company, 1,931 27 

as discount on claims paid in advance . 1,276 41 

for rents of company's property . . 64,022 59 

Total income $1,158,695 72 

Net or ledger assets Dec. 31, 1879 , 6,117,727 43 



Total 



Disbursements. 
Cash paid for losses and additions • 
Premium notes or loans used in payment of same 



r ,276,423 15 



$289,296 81 
12,509 66 



12 



MASSACHUSETTS LIFE 



[Dec. 31, 



Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 
Cash surrender values, including reconverted additions 
applied in payment of premiums 
dividends paid policy-holders, $16,407.02; applied 
in payment of premiums, $83,771.25 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for advertising . 

for incidentals 

for expenses on real estate 

Total disbursements 

Balance 

Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 
on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 

deposited in bank 

Bills receivable 

Ledger assets (as per balance) . 
Deduct possible depreciation of notes and mortgages 

Total net or ledger assets 



$110,402 07 
21,090 33 



$433,299 47 
4,000 00 

$429,299 47 
29,879 96 

35,577 97 

32,158 11 

100,178 27 
73,250 89 

$700,344 67 

53,534 16 

47,329 44 

5,013 00 

38,303 99 

10,085 82 

8,219 82 

7,362 82 

16,961 89 

64,434 73 



$951,590 34 
6,324,832 81 



$1,367,875 26 

2,654,788 66 

270,255 00 

67,465 00 

670,643 02 

1,176,131 41 

15,975 38 

98,509 18 

3,189 90 

$6,324,832 81 
4,908 57 

$6,319,924 24 



Other Assets. 



Interest due and accrued 
Rents due and accrued 



$208,802 20 
4,114 98 



1880.] 



INSURANCE COMPANIES. 



13 



Market-value of real estate over cost .... 

of stocks and bonds over cost 
Uncollected premiums on policies in force, $52,140 09 
Deferred premiums on policies in force . 95,416 40 

Total $147,556 49 

Deduct loading 23,609 04 

Net am't uncollected and deferred prems 
Cash in hands of agents . 



Total assets per company's books 

Items not admitted. 

Agents' balances .... 

Bills receivable .... 

Total ..... 

Total admitted assets 



$3,096 78 
3,189 90 



$155,324 74 
191,731 09 



123,947 45 

3,096 78 

. $7,006,941 48 



6,286 68 



$7,000,654 80 



Liabilities. 

Computed premium reserve or net present 
value of all outstanding policies (Actu- 
aries' 4 per cent) $6,013,537 00 

Deduct net value of re-insured risks . 28,049 00 

Net re-insurance reserve . . . 

Death losses due and unpaid . . . $4,916 00 

and matured endowments in 

process of adjustment . 131,769 00 
Claims resisted by the company . . 45,369 00 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders 
Premiums paid in advance , . 

Liabilities as to policy-holders . 
Surplus as regards policy-holders . . . 



Gross liabilities 



i,985,488 00 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 
received during 1880 

Total 

Used in payment of losses and claims 

of surrendered policies 

and voided by lapse 
of dividends to policy 
holders 
Redeemed by maker in cash . 

Total 

Balance note assets Dec. 31, 1880 



$707,228 20 
116,071 76 

$33,599 99 

34,369 19 

73,250 89 
8,530 45 



182,054 00 

13,783 57 

4,995 41 

$6,186,320 98 
814,333 82 

$7,000,654 80 



$823,299 96 



149,750 52 



$673,549 44 



14 



MASSACHUSETTS LIFE 



[Dec. 31, 



Exhibit of Policies. 
Policies and Additions in Force Dec, 31, 1879. 

Number. Amount. 

Whole-life policies 8,358 $19,628,288 00 

Endowment policies 2,277 3,581,372 00 

All other policies 2,430 5,567,485 00 



New Policies issued in 1880. 

Whole-life policies .... 
Endowment policies 
All other policies .... 
Policies revived during the year 

Total number and amount 



. 993 $2,795,545 00 

. 436 1,021,659 00 

. 43 109,700 00 

1 3,000 00 

14,538 $32,707,049 00 



Policies ceased to be in Force during the Year. 

Number. 

Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse 

by change and decrease 
Not taken 



Total terminated 



114 
502 
191 
183 



237 



Amount. 

$350,825 00 
137,531 00 

1,288,200 00 

501,054 00 

404,700 00 

99,249 00 

649,800 00 



1,363 $3,431,359 00 



Policies in Force Dec. SI, 1880. 

Number. Amount 

Whole-life policies 8,626 $20,534,508 00 

Endowment policies 2,387 3,988,697 00 

All other policies 2,162 4,752,485 00 



JL O LtilS ....... 

Schedule A. 
Securities held as Collateral. 

19 shares Springfield Gas-Light Co. 
15 " Union Paper Manuf. Co. 

425 " Hampden Paint and Chem. Co 
40 " Union Paper Manufacturing Co 
70 " Springfield Gas-Light Co. 

Chicago and Illinois Railroad bonds 

Assignment of judgment 
50 shares Worthy Paper Company 

20 " Union Paper Company . 
843 " Beebe and Holbrook Paper Co 

19 " Farmers' and Mechanics' Na 
tional Bank, Hartford . 
5 " Charter Oak Nat'lB'k,Hartf'd, 



13,175 $29,275,690 00 



Market-value. 


Amount loaned. 


$2,850 00 


$1,900 00 


1,680 00 


1,500 00 


8,500 00 


7,000 00 


4,480 00 


2,700 00 


10,500 00 


8,500 00 


22,500 00 I 
7,500 00 > 


30,000 00 




5,750 00 ) 
2,240 00 i 


5,800 00 


105,375 00 


50,000 00 


2,413 00 


1,500 00 


685 00 


475 00 



1880.] 



INSURANCE COMPANIES. 



15 



Market-value. 

$798 00 
2,210 00 1 
1,500 00 ! 
920 00 J" 
575 00 J 
12,000 00 
6,650 00 
14,250 00 
4,375 00 ) 
1,640 00 \ 
10,000 00 
50,960 00 
16,800 00 I 
26,620 00 > 
45,980 00 
3,000 00 
1,150 00 > 
1,140 00 i" 

875 00 
1,210 00 
3,000 00 
5,000 00 



6 shares iEtna National Bank, Hartford . 

13 " Pynchon National Bank . 

Mortgage assigned ..... 

8 shares Leicester Nat'l B'k, Leicester . 

5 " John Hancock National Bank . 

120 " Chicopee Water Power Co. 

38 " New York, N. H., and H. R.R. 
Georges Creek and Cumberland R.R. b'ds, 

25 shares New York, N. H., and H. R.R. 

10 " Boston and Albany R.R. 
100 " Cocheco Nat'l B'k, Dover, N.H. 
455 " Union Paper Manufacturing Co. 
150 ' ' Union Paper Manufacturing Co. 
Kansas City, St. Joseph, and C. B. R.R. 
Kansas City, St. Joseph, and C. B. R.R. 
30 shares Cocheco Nat'l D'k, Dover, N.H. 
Michigan Central Railroad bonds 
Boston, Concord, and Montreal R.R. b'ds, 
5 shares New York, N. H., and H. R.R. . 
Kansas City, St. Joseph, and C. B. R.R. 
Streeter Gas-Light and Coke Co. bonds . 
Greenwood county (Kan.) bonds 
Personal loans 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds .... $192,700 00 

Springfield city bonds .... 2,942 00 

Cleveland (O.) city bonds . . . 25,000 00 

Kansas City water bonds . . . 97,500 00 

Monmouth township (111.) bonds . . 24,375 00 

Kankakee township (111.) bonds . . 11,000 00 

Lewiston township (111.) bonds . . 40,000 00 

Tuscola township (111.) bonds . . . 5,000 00 

Edwardsville township (111.) bonds . . 11,700 00 

Washington county (111.) bonds . . 16,750 00 

Cass county (111.) bonds .... 17,100 00 

Mason county (111.) bonds . . . 14,625 00 

White county (111.) bonds . . . 11,550 00 

Kankakee county (111.) bonds . . . 30,000 00 

Warren county (111.) bonds . . . 20,900 00 

Greenwood county (Kan.) bonds . . 20,000 00 

5 shares Agawam Nat'l B'k, Springf'd, 515 00 

20 " Pynchon Nat'l B'k, Springf'd, 1,975 00 

124 " First Nat'l Bank, Springfield . 13,850 00 

81 " Second Nat'l Bank, Springf'd, 9,930 00 



Amount loaned. 

$550 00 



5,000 00 

9,000 00 

5,000 00 

10,000 00 

3,600 00 

10,000 00 
40,000 00 

32,500 00 

34,000 00 
2,400 00 

1,830 00 

700 00 
300 00 

2,500 00 
500 00 

3,000 00 



$270,255 00 



Market-value. 

$195,590 50 

3,000 00 

28,500 00 

110,000 00 

26,250 00 

11,550 00 

46,000 00 

5,250 00 

12,600 00 

19,000 00 

19,950 00 

15,750 00 

12,600 00 

31,500 00 

23,100 00 

20,000 00 

635 00 

3,400 00 

17,360 00 

13,608 00 



16 



MASSACHUSETTS LIFE 



[Dec. 31, 



35 shares Chicopee Nat'l B'k, Springf d, 

17 " John Hancock N'l B'k, Sp'gf 'd, 

100 " City Nat'l Bank, Springfield . 

24 " First Nat'l Bank, Chicopee . 

34 " First Nat'l B'k, Northampton, 
38 " Metropolitan Nat'l Bank, N.Y. 
15 " Eliot Nat'l Bank, Boston 

25 " Webster Nat'l Bank, Boston . 
15 " Merchants' Nat'l B'k, Boston . 

35 " N'l B'k of Commerce, Boston . 
St. L., Alton, and Terre H'te, R.R. bonds, 
Buffalo, New York, and Erie R.R. bonds, 
Ind., Bloomington, and West. R.R. bonds, 
Burl., Cedar Rapids, and N. R.R. bonds, 
Kansas and Nebraska Railroad bonds 
Syracuse, Binghamton, and N. Y. R.R.b'ds, 
Kansas City, St. Jos., and C. B. R.R. b'ds, 
Kansas Pacific Railroad bonds 

Central Iowa Railroad bonds . 
Railway Equipment Company bonds 
Ohio and W. Virginia Railroad bonds 
Southern Central R.R. of N. Y. bonds . 
685 shares Boston and Albany Railroad . 

90 " New York, N. H., and H. R.R. 
100 " N. Y. Cent, and H. R. R.R. . 
200 " Chic, Rock Isl'd, and P. R.R. 

70 " Burl., C. Rapids, and N. R.R. 
120 " Ind., Bloom., and West. R.R. 

75 " Kansas and Nebraska Railroad, 
250 " Ashuelot Railroad . 



Cost value. 
$5,120 00 

1.924 00 
10,000 00 

2,586 00 

3,455 50 

5,454 50 

1,522 50 

2,625 00 

1,844 57 

3,500 00 

30,026 25 

21,000 00 

55,000 00 

6,800 00 

7,000 00 

50,000 00 

71,294 02 

24,823 49 

50,000 00 

22,250 20 

30,000 00 

45,750 00 

92,693 88 

15,149 50 

9,775 00 

8.925 00 
2,200 00 
2,000 00 
1,000 00 

25,000 00 



Market-value. 

$5,250 00 

1,955 00 

11,500 00 

3,840 00 

4,590 00 

5,700 00 

1,695 00 

2,800 00 

2,145 00 

4,270 00 

34,650 00 

25,200 00 

68,840 00 

8,000 00 

8,684 00 

60,000 00 

96,800 00 

29,640 00 

57,500 00 

23,000 00 

31,500 00 

46,250 00 

112,340 00 

17,325 00 

15,400 00 

27,600 00 

5,250 00 

6,120 00 

1,875 00 

32,500 00 



,176,131 41 $1,367,862 50 



NEW ENGLAND MUTUAL LIFE INSURANCE COMPANY OF 

BOSTON. 

[Incorporated April 1, 1835. Commenced business Dec. 1, 1843.] 

Benjamin F. Stevens, President. Joseph M. Gibbens, Secretary. 

Income. 

Total premium income $1,568,042 59 

Cash received for interest on stocks, bonds, and loans . 784,833 17 

for interest on other debts due the company, 12,209 04 

for rents of company's property . . . 63,949 36 

for profit and loss account .... 17,689 42 



Total income 
Net or ledger assets Dec. 31, 1879 

Total .... 



$2,446,723 58 
13,964,397 97 

$16,411,121 55 



1880.] 



INSURANCE COMPANIES. 



17 



Disbursements. 
Cash paid for losses and additions ..... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies ..... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse ..... 

Cash distributions paid policy-holders applied in payment 

of premiums 

Premium notes or loans used in payment of distributions, 

Total paid policy-holders 

Cash paid for commissions to agents .... 

for medical examiner's fees .... 

for salaries of officers and office employe's 

for taxes ........ 

for advertising ....... 

for incidentals . 

for interest 

Total disbursements ....... 



$795,917 13 

34,367 87 

376,215 79 

43,235 21 

$1,249,736 00 

92,466 69 

43,381 79 

435,837 42 
79,383 60 

$1,900,805 50 

96,160 73 

7,042 50 

76,790 91 

34,031 89 

7,276 78 

93,632 14 

109 65 

$2,215,850 10 



Balance $14,195,271 45 

Invested in the following: — 



Assets as per Ledger Accounts. 

Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 
on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash deposited in bank ..... 
Quarterly and semi-annual premium notes 

Ledger assets (as per balance) . 

Other Assets. • 

Interest due and accrued 

Rents due and accrued 

Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, $189,478 65 
Deduct loading (10 per cent) . . 18,948 00 
Net am't uncollected and deferred prems. 



^1,312,726 70 

2,140,725 00 

100,200 00 

4,000 00 

1,289,231 04 

8,723,678 08 

417,303 18 

207,407 45 



$14,195,271 45 



$186,842 87 

11,208 26 

1,378,026 17 



Total assets per company's books 
3 



170,530 65 
. $15,941,879 40 



18 MASSACHUSETTS LIFE [Dec. 31, 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $13,008,957 00 

Death losses unpaid $92,409 00 

Matured endowments unpaid . . . 25,627 00 

Total policy claims .... - 118,03600 

Unpaid distributions of surplus due policy-holders . . 162,923 36 



Liabilities as to policy-holders $13,289,916 36 

Surplus as regards policy-holders 2,651,963 04 

Gross liabilities $15,941,879 40 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $1,583,688 80 

received during 1880 . 396,143 44 

Total $1,979,832 24 

Used in payment of losses and claims . $77,603 08 
of surrendered policies, 

and voided by lapse . 43,381 79 
of dividends to policy- 
holders . . . 79,383 60 
Redeemed by maker in cash . . . 282,825 28 

Total ° — - 483,193 75 



Balance note assets Dec. 31, 1880 .... $1,496,638 49 

Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 13,202 $41,220,570 00 

Endowment policies 2,992 6,979,097 00 



All other policies 2,556 


6,839,821 00 


New Policies issued in 1880. 




Whole-life policies 1,208 


3,727,656 00 


Endowment policies . . . . 590 


1,801,731 00 


All other policies ...... 60 


192,101 00 


Old Policies revived during the Year. 




Whole-life policies 43 


157, S00 00 


Endowment policies 25 


50,500 00 


All other policies ...... 2 


5,000 00 



Total number and amount . . . 20,678 $60,974,276 00 

Policies ceased to be in Force during the Year. 

.Number. Amount. 

Terminated by death 251 $826,153 00 

by maturity 197 394,116 00 

by expiry 198 585,450 00 

by surrender ..... 156 452,423 00 



1880.] 



INSURANCE COMPANIES. 



19 



Terminated by lapse 

by change and decrease 
Not taken 

Total terminated 



Number. Amount. 

655 $1,754,936 00 

10,000 00 
254 802,571 00 



1,711 $4,825,649 00 



Policies in Force Dec. 31, 1S80. 

Number. Amount. 

Whole-life policies 13,399 $41,892,382 00 

Endowment policies ..... 3,176 7,888,773 00 

All other policies 2,392 6,367,472 00 



Totals 



18,967$56,148,627 00 



Schedule A. 

Securities held as Collateral. 

Market-value. 

Fitchburg and Worcester Railroad bonds, $800 00 

12 shares Lancaster Mills . . . 9,960 00 

150 " Worcester National Bank . 18,000 00 

United States bonds .... 4,425 00 

20 shares Boston Safe Dep. and Trust Co. 2,100 00 . 

United States bond ..... 505 00 

Huntington Avenue land certificates . 75,000 00 

109 shares Glendon Iron Company . . 9,810 00 

United States bonds . . . . 1,120 00 

Lawrence city water loan . . . 1,180 00 

200 shares Atchison, Top., and S. Fe R.R. 30,400 00 



Amount loaned. 

$700 00 

5,000 00 

15,000 00 

6,000 00 

500 00 

45,000 00 

6,000 00 

1,000 00 

1,000 00 

20,000 00 



$153,300 00 $100,200 00 



Schedule B. 



72 


shares 


100 


it 


333 


u 


100 


(I 


50 


(< 


21 


( ( 


91 


(( 


107 


ti 


150 


1 1 


150 


l< 


240 


l< 


120 


it 


320 


a 


200 


t< 


250 


u 


250 


.« 



Stocks and Bonds owned by the Company. 

Cost value. Market-value. 

Atlantic National Bank . $7,10100 $11,016 00 

Bay State National Bank . 7,500 00 11,000 00 

Boston National Bank . . 33,300 00 38,877 75 

Continental National Bank . 10,000 00 11,500 00 

First Nat'l Bank, Cambridge, 5,000 00 7,500 00 

Massachusetts National Bank, 5,250 00 6,247 50 

Merchants' National Bank . 9,100 00 13,013 00 

National City Bank of Lynn, 10,716 67 17,120 00 

National Revere Bank . . 15,000 00 18,000 00 

Nat'l Hide and Leather B'k, 15,000 00 17,550 00 

National Eagle Bank . . 24,000 00 28,080 00 

State National Bank . . 10,273 10 14,520 00 

Tremont National Bank . 31,95125 38,720 00 

National Webster Bank . 20,000 00 22,400 00 

Boston Safe Dep. and T. Co. 25,000 00 26,250 00 

Merchandise National Bank, 25,000 00 27,500 00 



20 



MASSACHUSETTS LIFE 



[Dec. 31, 



Cost value. Market-value. 

744 shares Boston and Albany Railroad, $74,400 00 $120,528 00 

300 " Boston and Providence R.R. 29,950 00 45,900 00 

1,056 " Chic, Burl., and Quincy R.R. 105,600 00 190,080 00 

800 " Conn, and Passumpsic R.R. . 36,000 00 72,000 00 

300 " Phil., Wil., and Bait. R.R. . 15,000 00 21,600 00 

135 " Fitchburg Railroad . . 13,252 00 19,507 50 

150 " New York, N.H., and H. R.R. 15,000 00 26,550 00 

850 " Norwich and Worcester R.R. 84,925 25 119,000 00 

100 " Northern Railroad . . 10,000 00 9,500 00 

200 " Connecticut River Railroad . 20,000 00 31,400 00 

242 " Chicago and Alton Railroad, 24,200 00 37,268 00 

200 " Port., Saco, and Ports. R.R. 20,000 00 21,800 00 

105 " Eastern Railroad of N.H. . 3,150 00 9,135 00 

Eastern Railroad bonds .... 145,332 78 287,375 00 

Phila., Wilm., and Baltimore R.R. bonds, 75,871 67 90,500 00 

Agricultural Branch Railroad bonds . 14,895 00 18,000 00 

Michigan Central Railroad bonds . . 73,000 00 83,585 00 

Boston, Concord, and Montreal R.R. b'ds, 500,000 00 575,000 00 

Chicago, Burl., and Quincy R.R. bonds . 120,000 00 151,500 00 

Worcester and Nashua Railroad bonds . 75,000 00 75,000 00 

New Haven and Derby Railroad bonds . 14,250 00 18,000 00 

Nashua and Rochester Railroad bonds . 116,19166 125,000 00 

Albany city loan 23,256 00 27,840 00 

Boston city loan 715,736 12 788,120 00 

Charlestown city loan .... 72,716 67 75,750 00 

Chicago sewerage loan .... 70,350 00 90,750 00 

New Hampshire state loan . . . 26,000 00 31,200 00 

Hartford city loan 100,000 00 118,000 00 

Chelsea city loan 221,504 17 260,970 00 

Lawrence city loan 186,210 S3 217,840 00 

Lynn city loan 226,000 00 237,430 00 

Dorchester city loan .... 15,000 00 15,000 00 

Massachusetts state loan .... 124,172 35 145,740 00 

Rhode Island state loan .... 60,000 00 69,500 00 

Cincinnati city loan .... 95,00000 114,00000 

Beverly town loan 215,000 00 229,600 00 

Worcester water loan .... 110,00000 121,45000 

Lowell city loan 56,533 33 66,690 00 

Brookline town loan .... 475,100 00 538,959 00 

Worcester city loan 495,000 00 500,000 00 

Somerville city loan .... 70,00000 71,20000 

Fitchburg city loan 125,485 17 153,580 00 

Springfield city loan .... 126,00000 163, S00 00 

Providence city loan .... 146,403 06 164,850 00 

Loan to Providence and Worcester R.R. . 100,000 00 103,500 00 

Norwich loan 94,000 00 115,520 00 

Meriden loan 100,000 00 113,000 00 

Fall River loan 203,000 00 234,450 00 



1880.] 



INSURANCE COMPANIES. 



21 



Cambridge loan 

Maine loan 

Holyoke loan . 

Newton loan . 

Haverhill loan . 

New York loan 

Mercantile Trust Company bonds 

New England Mort. Security Co. bonds 

New Bedford loan . 

Salem loan 

Taunton loan . 

Norwalk loan . 

Lewiston loan . 

Pawtucket loan 

Boston and Lowell Railroad loan 

55 shares Boston Gas-Light Company 

5 " Dwight Manufacturing Co. 

5 • ' Massachusetts Cotton Mills 
United States bonds 



Cost value. 

$2,000 00 

11,500 00 

5,000 00 

70,000 00 

5,000 00 

300,000 00 

50,000 00 

100,000 00 

10,000 00 

10,000 00 

39,000 00 

50,000 00 

100,000 00 

150,000 00 

100,000 00 

27,500 00 

5,000 00 

5,000 00 

1,591,000 00 



Market- value. 

$2,040 00 

12,710 00 

6,000 00 

86,200 00 

5,600 00 

336,000 00 

50,000 00 

107,000 00 

11,000 00 

11,000 00 

46,410 00 

54,000 00 

109,000 00 

160,500 00 

100,000 00 

43,450 00 

3,675 00 

6,000 00 

1,724,857 50 



(,723,678 08 $10,101,704 25 



STATE MUTUAL LIFE ASSURANCE COMPANY OF 

WORCESTER. 

[Incorporated March 16, 1844. Commenced business June 1, 1845.] 

Isaac Davis, President. Clarendon Harris, Secretary. 

Income. 

Total premium income ....... $303,901 53 

Cash received for interest on stocks, bonds, and loans . 123,174 04 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 
Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 

dividends paid policy-holders, applied in payment of 
' premiums ....... 



Total paid policy-holders 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 



$427,075 57 
2,428,272 06 

&2,855,347 63 



$110,208 08 
11,700 00- 

$121,908 08 
6,852 30 

83,761 32 

$212,521 70 

21,253 44 

2,012 74 



22 MASSACHUSETTS LIFE [Dec. 31, 

Cash paid for medical examiner's fees .... $948 00 

for salaries of officers and office employes . 18,122 65 

for taxes and fees ...... 7,857 75 

for rent 2,000 00 

for loss on Wachusett Bank stock . . . 2,500 00 



Total disbursements $2G7,216 28 



Balance 2,588,131 35 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash deposited in bank ...... 



$50,000 00 

154,000 00 

1,900 00 

21,392 07 

2,065,300 45 

295,538 83 



Ledger assets (as per balance) $2,588,131 35 

Other Assets. 

Interest and rents due and accrued ..... $15,000 00 

Market-value of stocks and bonds over cost . . . 174,639 30 



Total assets as per company's books . . . $2,777,770 65 

Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . . . $2,156,106 00 

Death losses and matured endowments in 

process of adjustment .... $22,500 00 

Claims resisted by the company . . 10,000 00 

Total policy claims .... 32,500 00 

Unpaid dividends of surplus due policy-holders . . 2,469 12 



Liabilities as to policy-holders $2,191,075 12 

Surplus as regards policy-holders 586,695 53 



Gross liabilities $2,777,770 65 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $17,066 87 
received during 1880 . 41,541 49 

Total $5S,608 36 

Redeemed by maker in cash 37,216 29 



Balance note assets Dec. 31, 1880 .... $21,392 07 



1880.] 



INSURANCE COMPANIES. 



23 



Exhibit of Policies. 






Policies and Additions in Force Dec. 


31, 1879. 






Number. 


Amount. 


Whole-life policies ...... 


3,746 


$7,945,990 00 


Endowment policies ..... 


904 


1,790,520 00 


Reversionary additions . . . . 


- 


178,248 00 


New Policies issued in 1880 






Whole-life policies 


212 


595,500 00 


Endowment policies ..... 


88 
4,950 % 


260,500 00 


Total number and amount 


510,770,758 00 


Policies ceased to be in Force during 


the Year. 






.Number 


Amount. 


Terminated by death 


52 


$120,708 00 


by maturity 


11 


11,700 00 


by surrender .... 


20 


40,000 00 


by lapse 


136 
219 


311,200 00 


Total terminated ..... 


$483,608 00 


Policies in Force Dec. 31, 1880. 






Number. 


Amount. 


Whole-life policies ...... 


3,766 


$8,101,615 00 


Endowment policies ..... 


965 


2,011,320 00 


Reversionary additions 


4,731 i 


174,215 00 


Totals ....... 


510,287,150 00 



Schedule A. 

Securities held as Collateral. 

Market-value. Amount loaned. 

19 shares Quinsigamond National Bank . $2,280 00 $1,900 00 

Schedule B. 
Stocks and Bonds owned by the Company 

Cost value. Market-value 

United States bonds .... $535,485 46 $557,243 75 

Boston and Albany Railroad bonds . . 125,365 00 151,000 00 

Worcester and Nashua Railroad bonds . 101,500 00 100,500 00 

Providence and Worcester Railroad bonds, 206,000 00 230,000 00 

Providence and Worcester Railroad notes, 100,000 00 100,000 00 

Portland city bonds 28,841 49 34,200 00 

Springfield city bonds .... 128,445 00 158,200 00 

Cambridge city bonds .... 14,642 50 16,200 00 

Meriden city bonds 25,700 00 27,000 00 

Bangor city bonds 26,375 00 28,750 00 

Lawrence city bonds .... 75,000 00 83,125 00 

Newton city bonds '26,750 00 31,250 00 

Newbury port city bonds . . . . 6,300 00 6,840 00 

Lowell city bonds 10,500 00 11,700 00 



24 MASSACHUSETTS LIFE INS. COS. [Dec. 31, '80. 



Portsmouth city bonds 

Dover city bonds 

Worcester city bonds 

Providence city bonds 

Boston city bonds . 

Lynn city bonds 

Northampton town bonds 

Meriden town bonds 

Wiscasset town bonds 

Holyoke town bonds 

Pawtucket town bonds 

Brookline town bonds 

Upton town bonds . 

Amesbury town bonds 

Medway town bonds 

Winthrop town bonds 

Williamstown town bonds 

Essex town bonds . 

West Springfield town bonds 

Berlin town bonds . 

Grafton town bonds 

100 shares Third National Bank 
50 " Westminster National Bank 
20 " Northborough National Bank 
25 " Wachusett National Bank 
50 " Leicester National Bank . 
80 " Millbury National Bank . 
79 " Grafton National Bank . 
40 " City National Bank 

187 " Quinsigamond National Bank 
35 " Worcester National Bank 
25 " Central National Bank . 

100 " Continental National Bank 
67 u Shawmut National Bank 

167 " Howard National Bank . 
50 " First National Bank 
25 " Suffolk National Bank . 
40 " Eliot National Bank 
67 " Revere National Bank 
75 " Republic National Bank . 
115 " Mutual Redemption Nat'l B'k 
100 " Tremont National Bank . 
50 " Webster National Bank . 
112 " Hide and Leather Nat'l Bank 
195 " Atlantic National Bank . 



Cost value. 
$19,260 00 
24,610 00 
86,600 00 
25,875 00 
75,125 00 
35,500 00 
23,500 00 
17,085 00 
9,235 00 
* 11,200 00 
26,750 00 
20,000 00 
6,160 00 
10,400 00 
10,350 00 
10,200 00 
2,300 00 
5,050 00 
12,625 00 
10,000 00 
10,000 00 
10,000 00 
5,000 00 
2,000 00 
2,500 00 
5,525 00 
8,000 00 
7,900 00 
4,000 00 
18,790 00 
4,900 00 
2,500 00 
10,012 50 
6,725 00 
17,115 50 
5,000 00 
3,350 00 
4,075 50 
6,756 25 
7,562 50 
15,9S5 00 
13,300 00 
5,275 00 
11,575 00 
24,723 75 



Marketrvalue. 

$19,800 00 
24,840 00 
89,600 00 
28,250 00 
78,750 00 
36,850 00 
28,750 00 
18,360 00 

11,800 00 
26,500 00 
24,000 00 
6,180 00 
11,000 00 
10,500 00 
10,500 00 
2,300 00 
5,000 00 
13,000 00 
10,300 00 
10,000 00 
17,000 00 
5,000 00 
2,300 00 
3,000 00 
5,500 00 
8,960 00 
9,085 00 
4,600 00 
22,440 00 
4,375 00 
3,500 00 
11,525 00 
8,040 00 
20,040 00 
10,100 00 
3,087 50 
4,545 00 
S,056 75 
9,600 00 
16,243 75 
12,100 00 
5,600 00 
13,118 00 
29,835 00 



$2,065,300 45 $2,239,939 75 



LIFE INSURANCE COMPANIES 

OF OTHER STATES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1880. 



26 



LIFE INSURANCE COMPANIES [Dec. 31, 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



.&TNA LIFE INSURANCE COMPANY OF HARTFORD, CONN. 

[Incorporated 1820. Commenced business 1850.] 

Paid-up Capital, $750,000. 

Morgan G. Bulkeley, President. Joel L. English, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims -paid in advance 

Total income 

Net or ledger assets Dec. 31, 1879 .... 



Total 



$2,392,332 56 

1,538,638 95 

13,578 93 

9,332 68 

83,953,883 12 
24,499,327 91 

828,453,211 03 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse .... 

Cash surrender values, including reconverted additions 

applied in payment of premiums . 

dividends paid policy-holders, applied in payment of 

premiums ....... 

Premium notes or loans used in payment of dividends 

Total paid policy-holders 



81,065,236 93 

71,217 70 

735,287 31 

36,180 74 

81,907,922 68 

20,823 00 

81,887,099 68 

40,949 85 

47,788 23 

195,271 46 

329,804 11 

177,281 70 

82,678,195 03 



1880.] 



OF OTHER STATES. 



27 



Cash paid for dividends to stockholders . 

for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees ..... 

for rent 

for furniture and office fixtures 

for advertising ..... 

for incidentals ...... 

Profit and loss 



Total disbursements . 



Balance $25,227,060 28 



$75,000 00 

222,831 29 

7,048 25 

12,891 46 

57,082 00 

114,747 86 

8,075 66 

331 00 

6,458 57 

41,859 30 

1,630 33 

$3,226,150 75 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Premium notes (including cash notes taken foT premiums) 
Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 

deposited in bank 

Bills receivable 

Agents' ledger balances 

Ledger assets (as per balance) .... 



$603,002 42 

8,900,519 31 

281,889 31 

2,852,281 65 

8,315,674 12 

45,267 23 

4,187,275 59 

39,904 55 

1,246 10 

. $25,227,060 28 



Other Assets. 

Interest due and accrued 

Market-value of stocks and bonds over cost 

Uncollected premiums on policies in force, $60,558 31 

Deferred premiums on policies in force . 114,556 07 



$437,280 84 
563,985 18 



Total ...... 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems. 



5,114 38 
35,022 87 



Total assets per company's books 

Items not admitted. 

Agents' balances SI, 246 10 

Bills receivable 39,904 55 

Total 



140,091 51 

. $26,368,417 81 



41,150 65 



Total admitted assets 



. $26,327,267 16 



28 LIFE INSURANCE COMPANIES [Dec. 31, 

Liabilities. 
Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . . . $21,920,300 00 
Deduct net value of re-insured risks .... 76,875 00 



Net re-insurance reserve $21,843,425 00 

Death losses due and unpaid . . . $57,838 20 
Matured endowments due and unpaid . 22,106 00 

Death losses and matured endowments in 

process of adjustment .... 261,386 00 
Claims resisted by the company . . 22,615 10 

Total policy claims .... 363,945 30 

Unpaid dividends of surplus due policy-holders . . 78,975 82 

Attorneys' fees 12,106 47 

Reserve for possible depreciation 75,000 00 



Liabilities as to policy-holders $22,373,452 59 

Estimated surplus accrued on policies, the 
profits upon which are 
especially reserved for 

that class of policies, $235,000 00 
accrued on all other 

policies . . . 3,718,814 57 

Gross surplus as regards policy-holders, 3,953,814 57 

Gross liabilities $26,327,267 16 

Premium Note Account. 

Premium notes on hand Dec. 31; 1879 . $2,949,622 93 

received during 1880 . 238,015 65 

Total $3,187,638 58 

Used in payment of losses and claims . $107,398 44 
of surrendered policies, 

and voided by lapse . 47,788 23 
of dividends to policy- 
holders . . . 177,281 70 
Redeemed by maker in cash . . . 21,313 24 

Total 353,781 61 



Balance note assets Dec. 31, 1880 .... $2,833,856 97 

Exhibit of Policies. 

Policies and Additions in Force Dec. 81, 1879. 

Number. Amount 

Whole-life policies 35,357 $53,300,483 00 

Endowment policies 17,870 17,346,810 00 

All other policies 3,025 7,090,745 00 

New Policies issued in 1880. 

Whole-life policies 2,278 3,363,273 00 

Endowment policies 1,166 1,691,109 00 

All other policies 843 1,833,964 00 



1880.] 



OF OTHER STATES. 



29 



Old Policies revived during the Year. 

Number. 



Whole-life policies . 
Endowment policies 
All other policies 

Total number and amount 



12 

9 
6 



Amount. 

,649 00 
29,080 00 
7,100 00 



60,566 $84,732,213 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 665 $1,165,775 00 



by maturity . 
by expiry 
by surrender . 
by lapse 
Not taken 

Total terminated 



784 
4S 
879 
948 
591 



778,290 00 

132,853 00 

1,503,106 00 

2,206,818 00 

993,552 00 



3,915 $6,780,394 00 



Policies in Force Dec. 31, 1880. 

Number. Amount. 

Whole-life policies 35,739 $52,929,631 00 

Endowment policies 17,772 17,470,442 00 

All other policies 3,140 7,551,746 00 



Totals 



56,651 $77,951,819 00 



Schedule A. 

Securities held as Collateral. 



Amount loaned. 



125 s 


hai 


100 


it 


13 


(i 


100 


tt 


80 


(( 


300 


tt 


25 


tt 


150 


it 


40 


11 


400 


it 


50 


tt 


25 


tt 


300 


it 


30 


ii 


85 


it 


1,300 


ti 


50 


ii 


10 


ii 


101 


it 


87 


tt 



United States Trust Co. 
Willimantic Linen Company, 
United States Trust Co. 
Hartf . City Coal and Salt Co 
JEtna Fire Insurance Co. 
Willimantic Linen Company 
Hartford Carpet Company 
United States Trust Co. 
iEtna Fire Insurance Co. 
Willimantic Linen Company 
Hartford Carpet Company 
iEtna Fire Insurance Co. 
Willimantic Linen Company 
Hartford Carpet Company 
Union Salt Company . 
Wheeler and Wilson Man. Co 
United States Trust Co. 
Orient Fire Insurance Co. 
iEtna Fire Insurance Co. 
Travelers' Insurance Co. 



Market-value. 

$10,625 00 

8,500 00 

1,105 00 

2,000 00 \ $50,100 00 
20,000 00 
25,500 00 

6,750 00J 
12,750 00] 
10,000 00 | 

34,000 00 \ 58,363 31 
13,500 00 ' 

6,250 00 
25,500 00 

8,100 00 
34,000 00 
97,500 00 

4,250 00 

1.250 00 
25,250 00 
19,140 00 



J 



6,500 00 

4,000 00 

25,000 00 

90,000 00 

4,000 00 

5,000 00 
11,960 00 



30 



LIFE INSURANCE COMPANIES [Dec. 31, 



161 shares Willimantic Linen Company, 
16 " Central National Bank 
77 " N.Y., N.H., andH. R.R. 
10 " Phoenix Fire Insurance Co 

Dayton town bond .... 

Mt Pulaski town bond . 

Beardstown city bond 

Assignment of mortgage . 



Schedule B. 
Stocks xind Bonds owned by 

235 shares Connecticut Riv. Banking Co 



Market-value. 

$13,685 00 
1,600 00 
12,705 00 
2,100 00 
1,000 00 
1,000 00 
1,350 00 
7,500 00 



Amount loaned. 

$9,000 00 
1,200 00 

5,850 00 
736 00 

2,680 00 

7,500 00 



$406,910 00 $281,889 31 



75 
918 
400 
560 
750 
739 
1,552 
1,608 
565 



Metropolitan Bank 
Phcenix National Bank 
Mercantile National Bank 
City National Bank 
Hartford National Bank 
First National Bank 
National Exchange Bank 



American National Bank 
Farmers' and Mechanics 
National Bank . 
133 " Suffield National Bank 
250 " New Britain National Bank 
836 " Charter Oak National Bank 
700 " .Etna National Bank . 
200 " Hartford Trust Company 

50 " United States Trust Co. 
200 " Rockville National Bank 
100 " Security Company 
United States bonds 
District of Columbia bonds 
368 shares Connecticut River Railroad 
63 " JEtna Fire insurance Co. 
955 " NY., N.H., and H. R.R. 
Indianapolis and Cincinnati R.R. bonds 
Columbus and Indianapolis R.R. bonds 
Cincinnati and Indiana Railroad bonds 
Cleveland, Paineville, and Ash. R.R. b'ds 
Dayton and Michigan Railroad bonds 
Little Miami Railroad bonds . 
New York Central Railroad bonds . 
Union Pacific Railroad bonds . 
Harlem and Port Chester Railroad bonds 
NY. Central and H. R. Railroad bonds 
Keokuk and Des Moines Railroad bonds 



the Company. 
Cost value. 

•317,545 00 
10,312 50 

124,285 50 
42,885 25 
60,900 75 

107,720 25 
92,060 66 
93,729 80 
93,576 87 

102,462 25 
15,100 00 
28,450 00 
97,572 25 
79,969 46 
20,825 00 
5,262 50 
20,000 00 
10,000 00 

962,675 00 

217,126 38 
39,372 25 
17.136 68 

140,051 75 
47,380 00 
45,000 00 
20,675 00 
13,671 25 
13,950 00 
890 00 
3,810 00 
30,690 00 
99,500 00 

100,000 00 
22,033 20 



Market-value. 

$8,225 00 
11,250 00 

142,290 00 
50,000 00 
56,000 00 

116,250 00 
88,680 00 

116,400 00 

112,560 00 

70,625 00 
13,965 00 
31,250 00 

112,860 00 
89,600 00 
20,000 00 
4,250 00 
21,000 00 
10,600 00 
1,052,800 00 

300,000 00 
58,144 00 
15,750 00 

157,575 00 
50,000 00 
52,500 00 
24,000 00 
14,000 00 
15,500 00 
1,000 00 
4.400 00 
34.500 00 

125,000 00 

125,000 00 
17,224 00 



1880.] 



OF OTHER STATES. 



31 



Cleveland and Pittsburg Railroad bonds 

Atlantic Dock bonds 

Chicago, Mil., and St. Paul R.R. bonds 

Vermont Valley Railroad bonds 

South Carolina state bonds 

Virginia state bonds 

Tennessee state bonds 

Mississippi state bonds 

Kansas state bonds . 

Terre Haute city bonds 

Richmond city bonds 

Galesburg city bonds 

Mobile city bonds 

Hartford city bonds . 

Cleveland city bonds 

Louisville city bonds 

Kansas city bonds . 

New Britain city bonds 

Chicago water loan . 

Springfield city bonds 

Elizabeth city bonds 

Grand Rapids city bonds 

Hartford city bonds 

Peoria city bonds 

Beardstown city bonds 

New Boston city bonds 

Cleveland city bonds 

Jersey City city bonds 

Newark city bonds . 

Buffalo water bonds 

Des Moines city bonds 

Fort Wayne city bonds 

Indianapolis city bonds 

Quincy city bonds . 

Milwaukee city bonds 

Cincinnati city bonds 

New York city bonds 

Hartford city bonds 

Logansport city bonds 

Marion city bonds . 

St. Paul city bonds . 

Burlington city bonds 

Edgar county bonds 

Warren county bonds 

Marion county bonds 

Munroe county bonds 

Ford county bonds . 

Adams county bonds 



Cost value. 

$747 50 

23,750 00 

25,000 00 

150,750 00 

26,545 00 

23,357 94 

31,301 00 

8,786 05 

99,750 00 

31,400 00 

20,500 00 

20,545 00 

120,000 00 

368,310 00 

204,230 00 

89,750 00 

90,500 00 

130,689 00 

50,000 00 

82,405 00 

128,580 00 

15,581 83 

13,710 00 

100,200 00 

2,980 00 

9,750 00 

52,390 00 

122,900 00 

172,015 00 

99,750 00 

40,000 00 

40,305 00 

487,570 00 

37,564 00 

97,500 00 

100,000 00 

104,000 00 

4,151 75 

61,200 00 

10,142 50 

52,350 00 

41,612 00 

53,600 00 

930 00 

99,500 00 

35,000 00 

58,000 00 

37,937 50 



Market-value. 

$1,080 00 

27,000 00 

26,250 00 

150,750 00 

34,630 00 

15,200 00 

11,900 00 

8,786 05 

105,000 00 

38,850 00 

25,500 00 

20,545 00 

60,000 00 

421,880 00 

243,900 00 

110,000 00 

105,000 00 

143,000 00 

55,000 00 

68,800 00 

57,600 00 

20,000 00 

14,700 00 

114,480 00 

4,500 00 

9,750 00 

62,400 00 

137,800 00 

190,100 00 

120,000 00 

40,000 00 

51,000 00 

525,000 00 

45,000 00 

110,000 00 

125,000 00 

125,000 00 

4,000 00 

61,200 00. 

10,142 50 

62,400 00 

41,612 00 

53,600 00 

930 00 

105,000 00 

35,000 00 

58,000 00 

50,000 00 



32 



LIFE INSURANCE COMPANIES [Dec. 31, 



Christian county bonds 
Cook county bonds . 
Sangamon county bonds 
Kankakee county bonds 
Macoupin county 
Sangamon county bonds 
White county bonds 
Gallatin county bonds 
Moultrie county bonds 
Randolph county bonds 
De Witt county bonds 
Wabash county bonds 
Hudson (N.J.) county bonds 
Iroquois county bonds 
Ramsey county bonds 
Marion county bonds 
Tazewell county bonds 
Paris town bonds 
Georgetown town bonds 
Newman town bonds 
Camargo town bonds 
Garrett town bonds . 
Elwood town bonds . 
Brooklyn town bonds 
Mount Pulaski town bonds 
Grant town bonds . 
Penn town bonds 
Moline town bonds . 
Edgewood town bonds 
West Hartford town bonds 
Rock Island town bonds 
Lenox town bonds . 
Danbury town bonds 
Astoria town bonds . 
Woodland town bonds 
Browning town bonds 
Bushnell town bonds 
Ricks town bonds 
Mattoon town bonds 
Winchester town bonds 
Galva town bonds . 
Keithsburg town bonds 
De Witt town bonds 
Ross town bonds 
Aurora town bonds . 
Evans town bonds . 
East Windsor town bonds 
Urbana town bonds . 



Cost value. 

$44,250 00 



22 

39 

24 

43 

46 

10 

10 

45 

51 

30 

26 

49 

46 

32 

200 

50 

12 

30 

11 

14 

12 

32 

47 

30 

20 

18 

19 

10 

12 

37 

8 

6 

1 

3 

3 

40 

6 

20 

4 

14 

23 

9 

28 

2 

2 

29 

S 



750 00 
250 00 
687 50 
400 00 
000 00 
860 00 
400 00 
240 00 
330 00 
850 00 
100 00 
843 75 
221 50 
000 00 
250 00 
000 00 
000 00 
000 00 
700 00 
625 00 
675 00 
000 00 
750 00 
000 00 
453 22 
525 00 
750 00 
000 00 
000 00 
625 00 
400 00 
050 00 
500 00 
500 00 
500 00 
S00 00 
980 00 
250 00 
600 00 
700 00 
000 00 
950 00 
802 70 
860 00 
895 00 
700 00 
000 00 



Market-value. 

$44,250 00 

28,750 00 

43,200 00 

24,687 50 

12,900 00 

54,000 00 

10,860 00 

10,400 00 

45,240 00 

51,330 00 

30,850 00 

30,000 00 

54,000 00 

48,300 00 

34,560 00 

210,000 00 

50,000 00 

12,000 00 

30,000 00 

11,700 00 

14,625 00 

12,675 00 

32,000 00 

47,750 00 

30,000 00 

20,453 22 

18,525 00 

19,750 00 

10,000 00 

12,000 00 

37,625 00 

8,400 00 

7,000 00 

1,500 00 

3,500 00 

3,500 00 

40,800 00 

6,980 00 

20,250 00 

4,600 00 

14,700 00 

23,000 00 

9,950 00 

28,802 70 

2,860 00 

2,895 00 

31,200 00 

8,000 00 



1880.] 



OF OTHER STATES. 



33 



Sprague town bond . 

Brooklyn city bonds 

Province Quebec bonds . 

Bloomfield town bonds 

Champaign township bonds 

Worth township bonds 

Sangamon town bonds 

Pleasant township bonds . 

First School-District Hartford bonds 

Cedar Rapid school bonds 

Red Oak school bonds 



Cost value. 

$40,133 33 

307,500 00 

25,187 50 

40,824 00 

30,000 00 

9,000 00 

15,000 00 

35,350 00 

22,000 00 

12,000 00 

6,500 00 



Market-value. 

$40,133 33 

303,000 00 

25,000 00 

40,S24 00 

30,000 00 

9,000 00 

15,000 00 

35,350 00 

22,000 00 

12,000 00 

6,500 00 



5,315,674 12 $8,879,659 30 



CONNECTICUT GENERAL LIFE INSURANCE COMPANY OF 

HARTFORD, CONN. 

[Incorporated June, 1865. Commenced business October, I860.] 

Paid-up Capital, $150,000. 

Thomas W. Russell, President. Frederick V. Hudson, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 
for interest on other debts due company 
for profits on bonds or stocks sold 

Profit and loss account . . . . . 



Total income 
Net or ledger assets Dec. 31, 1879 
Decrease of capital during 1880 



,349,415 01 
100,000 00 



Total 



Disbursements. 



Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 

5 



$136,407 81 

63,379 70 

3,997 16 

1,645 61 

173 22 

$205,603 50 



1,249,415 01 
$1,455,018 51 



$61,563 69 
34,796 00 

$96,359 69 
9,394 68 

$86,965 01 
3,645 08 

3,855 48 



34 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash surrender values, including reconverted additions 

applied in payment of premiums 
dividends paid policy-holders, $308.76; applied in 

payment of premiums, $2,575.66 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees ..... 
for incidentals 

Total disbursements 

Balance 

Invested in the folio wiug : — 

Assets as per Ledger Accounts. 
Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office . 
deposited in bank . 
Bills receivable .... 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



$7,591 13 

2,884 42 
2,951 05 

$107,892 17 
15,988 00 
8,711 27 
9,894 00 
1,114 00 
13,670 28 
6,117 38 
7,043 18 

$170,430 28 

$1,284,588 23 



$304,824 91 

502,007 55 

2,000 00 

108,108 46 

320,675 57 

554 16 

45,037 21 

1,380 37 

$1,284,588 23 
37,369 91 

$1,247,218 32 



Other Assets. 
Interest due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems 



$9,158 56 
15,443 97 

$24,602 53 
4,920 50 



Total assets per company's books 

Items not admitted. 



Bills receivable 

Total admitted assets 



26,893 08 
21,123 93 



19,682 03 
$1,314,917 36 

$1,380 37 
$1,313,536 99 



1880.] 



OF OTHER STATES. 



35 



Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Deduct net value of re-insured risks .... 



$1,026,632 00 
5,937 00 



Net re-insurance reserve . 


• • • 


$1,020,695 00 


Death losses and matured endowments in 






process of adjustment .... 


$18,425 00 




Claims resisted by the company 


5,000 00 




Total policy claims .... 




23,425 00 




Premiums paid in advance 


• • • 


3,416 68 


Agents' ledger balances .... 


• • • 

• • • 


173 22 


Liabilities as to policy-holders . 


$1,047,709 90 


Surplus as regards Tontine policy-holders, 


$45,398 31 




other policy-holders . 


220,428 78 




Gross surplus as regards policy-holders, 




265,827 09 




Gross liabilities .... 


... 


$1,313,536 99 


Premium Note Account. 




Premium notes on hand Dec. 31, 1879 


$117,845 46 




received during 1880 


10,189 15 




Total 




$128,034 61 


J_ULc.ll ...... 




Used in payment of surrendered policies, 






and voided by lapse . 


$3,855 48 




of dividends to policy- 






holders 


2,951 05 




Redeemed by maker in cash . 


13,119 62 




Total ...... 




19,926 15 





Balance note assets Dec. 31, 1880 



$108,108 46 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 



Whole-life policies . 
Endowment policies 
All other policies 



New Policies issued in 1880. 



Whole-life policies 

Endowment policies .... 

All other policies 

Whole-life policies revived during the year 
Old policies increased during the year 

Total number and amount . • 



Number. 


Amount. 


2,940 


$4,861,666 00 


429 


401,065 00 


48 


74,019 00 


880. 

538 


718,891 00 


11 


18,050 00 


6 


8,600 00 


13 


14,650 00 


. — 


2,900 00 


3,985 


$6,099,841 00 



36 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies ceased to be in Force during the Year. 



Terminated by death 

by maturity 



Not taken 



by expiry 

by surrender 

by lapse 

by change or decrease 



Total terminated 



Number. 


Amount. 


29 


$00,278 00 


24 


34,796 00 


1 


5,000 00 


29 


79,100 00 


254 


342,381 00 


- 


17,743 00 


118 


154,000 00 


455 


$699,898 00 



Policies in Force Dec. 81, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 

Totals 



Number. Amount. 

3,089 $4,973,724 00 

400 306,650 00 

41 59,569 00 



3,530 $5,399,943 00 



Schedule A. 

Securities held as Collateral. 



50 shares United States Express Company, 
39 « N.Y.,N.H., and Hartford R.R. 



Schedule B. 



Market-value. 

$2,600 00 
7,020 00 



Amount loaned. 

$1,000 00 
1,000 00 



$9,620 00 $2,000 00 



Stocks and Bonds owned by 



United States bonds 

Connecticut state bonds . 

Tipton county (Ind.) bonds 

Chicago city bonds . 

Quincy city bonds . 

Washington city bonds . 

Evansville city bonds 

Indianapolis city bonds . 

Woodburn (Io ) school bonds 

Exira (Io.) school bonds . 

Indianapolis and Cincinnati R.R. bonds 

Lake Shore and Mich. Southern R.R. b'ds 

125 shares N. Y., N. H., and Hart. R.R 



16 
40 
40 
216 
104 
52 



Shoe and Leather Nat'l Bank 
Merchants' Exch. Nat'l Bank 
Fourth National Bank 
American National Bank 
Phoenix National Bank . 
Charter Oak National Bank 



the Company. 
Cost value. 

$83,129 16 

30,246 50 

13,016 25 

1,950 00 

12,515 00 

9,775 00 

14,425 00 

24,500 00 

2,500 00 

3,000 00 

9,610 00 

5,089 38 

16,793 03 

2,075 00 

2,750 00 

4,193 00 

13,538 00 

15,853 00 

6,700 00 



Market-value. 

$84,537 50 

31,560 00 

13,000 00 

2,100 00 

14,400 00 

10,500 00 

15,750 00 

26,250 00 

2,500 00 

3,000 00 

11,550 00 

6,875 00 

22,500 00 

2,000 00 

1,950 00 

4,600 00 

16,200 00 

17,160 00 

7,020 00 



1880.] 



OF OTHER STATES. 



37 



70 shares Hartford National Bank . 

100 " First National Bank 

9 " iEtna National Bank 

17 " Farmers' and Mech's' N'l B'k 

86 " Conn. Tr. and Safe Dep. Co. 

50 " Security Company . 

50 • " Thames National Bank . 



Cost value. 

$10,625 00 
13,978 25 
1,116 00 
3,270 00 
8,428 00 
4,750 00 
6,850 00 



Market>value. 

$11,550 00 
12,000 00 
1,188 00 
2,159 00 
8,600 00 
5,850 00 
7,000 00 



$320,675 57 $341,799 50 



CONNECTICUT MUTUAL LIFE INSURANCE COMPANY OF 

HARTFORD, CONN. 

[Incorporated June 15, 1846. Commenced business Dec. 15, 1846. 

Jacob L. Greene, President. John M. Taylor, Secretary. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 
as discount on claims paid in advance 
for rents of company's property 
for profits on securities sold 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



$5,247,282 90 

2,494,965 26 

42,801 00 

296,366 44 

68,644 00 

$8,150,059 60 
47,116,244 37 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premiums notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash surrender values, including reconverted additions 

applied in payment of premiums 

dividends paid policy-holders, $56,552.44; applied 

in payment of premiums, $1,605,530.67 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents 

for travelling-expenses of agents 
for medical examiner's fees 



$55,266,303 97 

$2,666,380 21 

66,704 06 

919,663 70 

32,398 30 

$3,685,146 27 
128,104 08 

135,976 76 

665,813 41 

1,662,083 11 
136,571 75 

$6,413,695 38 

310,974 81 

9,794 24 

11,817 75 



38 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for salaries of officers and office employes 
for taxes and fees ..... 

for advertising ...... 

for incidentals ...... 

for expenses on real estate owned 

Total disbursements ...... 

Balance 

Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 

Cash deposited in bank 

Agents' ledger balances 

Ledger assets (as per balance) . 

Other Assets. 
Interest due and accrued ..... 

Rents due and accrued ..... 

Market-value of stocks and bonds over cost 

Deferred premiums on policies in force . $51,903 11 

Deduct loading (25 per cent) . . . 12,975 77 

Net am't uncollected and deferred prems. 



$98,930 54 

391,207 86 

36,641 80 

71,323 86 

88,289 03 

$7,432,675 27 

$47,833,628 70 



. $12,622,944 42 

. 18,718,385 49 

31,553 28 

. 3,702,156 82 

. 9,410,334 34 

. 3,286,819 32 

61,435 03 

. $47,833,628 70 

. 1,159,251 15 

30,688 68 

430,133 54 



Total assets per company's books .... 

Items not admitted. 
Agents' balances ..... $61,435 03 
Depreciation from cost of real estate * . 1,517,365 20 



38,927 34 
$49,492,629 38 



Total 

Total admitted assets 



- 1,578,800 23 
. $47,913,829 15 



* In the Report of last year the following note was appended hy the Commissioner to the 
Company's statement: — 

" This deduction for depreciation from the cost value of real estate owned hy the Com- 
pany is the result of examinations and appraisals made hy Commissioners Stedman of Con- 
necticut and Row of Michigan, assisted hy experts appointed from or approved by the 
departments of Illinois and Missouri. The Company claims that so large a deduction, if 
any at all, was unnecessary; that, from the date of the appraisals to this time (June 1), its 
property, especially in the Western States, has appreciably improved, and that there will be 
no loss upon these investments. While it is sincerely hoped that these expectations may be 
fully realized, yet there seems no justification on that account for disregarding the conclu- 
sions of competent and unobjectionable appraisers as to the value of the property at date of 
statement." 

In making up the real estate account for the present statement, the values ascertained hy 
Commissioner Stedman have been retained as the basis, omitting such items as have disap- 
peared during the year, by sale or otherwise. To each of those remaining has been added its 
appreciation of value during the year, as claimed by the Company ; also the property ac- 
quired during the year by foreclosure is allowed at the values so claimed. The total value of 
the real estate thus ascertained is $11,105,579.22, instead of $12,622,944.42, as shown in above 
statement by the Company. The difference, $1,517,365.20, is carried into "Items not ad- 
mitted." 



1880.] 



OF OTHER STATES. 



39 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Death losses and endowments due and un- 
paid ..... 
and matured endowments in 
process of adjustment 
Claims resisted by the company 

Total policy claims . 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance, etc. 
Contingent reserve on lapsed policies 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities .... 



. $45,019,822 00 



$17,889 67 

510,562 00 
121,189 00 



649,640 67 

107,991 50 

195,889 95 

181,479 81 

$46,154,823 93 
1,759,005 22 

$47,913,829 15 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 
received during 1880 
Total ...... 

Used in payment of losses and claims 

of surrendered policies, 
and voided by lapse . 
of dividends to policy- 
holders 
Redeemed by maker in cash 

Total ...... 

Balance note assets Dec. 31, 1880 



:,109,717 91 
72,330 00 

$99,102 36 

187,446 76 

136,571 75 
56,770 22 



$4,182,047 91 



479,891 09 
. $3,702,156 82 



Exhibit of Policies. 
Policies and Additions in Force Dec. 81, 1879. 

Number. Amount. 

Whole life policies 56,669$148,858,263 00 



Endowment policies 
All other policies 



Whole-life policies 
Endowment policies 
All other policies 



New Po 



7,141 14,423,683 00 
694 1,303,177 00 



icies issued in 1880. 



2,881 

473 

6 



Old Policies revived during the Year. 



Whole-life policies . 
Endowment policies 
All other policies 

Total number and amount 



619 

68 

5 



6,408,015 00 

1,110,860 00 

8,138 00 



1,932,545 00 

126,850 00 
11,500 00 



68,556$174,183,031 00 



40 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies ceased to be in Force during the Year. 





Number 


Amount. 


Terminated by death . 


980 


$2,685,542 00 


by maturity . 


435 


954,643 00 


by expiry . 


1 


4,000 00 


by surrender . 


1,608 


4,708,854 00 


by lapse . 


955 


2,683,250 00 


by change and decrease 


.- 


347,050 00 


Not taken ...... 


234 
4,213 ( 


694,325 00 


Total terminated . . . . 


£12,077,664 00 


Policies in Force Dec. 


SI, 1880. 






Number. 


Amount. 


Whole-life policies 


56,7798147,017,097 00 


Endowment policies . . . . 


6,913 


13,891,192 00 


All other policies 


651 


1,197,078 00 


Totals 


64,3431 


162,105,367 00 



Schedule A. 

Securities held as Collateral. 



United States bonds 

St. Louis city bonds 

Ohio Canal stock 

50 shares Little Miami Railroad 

Pettis county (Mo.) bonds 

Hartford city bond . 

Mortgage bond (property in Louisville) 

100 shares iEtna Fire Insurance Company, 

14 " N. Y., N. Haven, and H. R.R. 

50 " Merchants' Nat'l B'k, Toledo, 



Schedule B. 



Market-value. 

$507 50 ^ 



Amount loaned. 



2,200 00 



y 



$9,803 28 

2,250 00 
1,000 00 
3,000 00 
10,000 00 
1,500 00 
4,000 00 

$54,025 50 $31,553 28 



5,500 00 f 
2,500 00 j 
4,200 00 
1,210 00 
5,000 00 
25,500 00 
2,408 00 
5,000 00 



United States bonds 
Connecticut state bonds 
Tennessee state bonds 
Toledo city bonds 
Fort Wayne city bonds 
Jackson city bonds . 
Evansville city bonds 
Louisville city bonds 
Quincy city bonds . 
Milwaukee city bonds 
Kansas city bonds . 



Stocks and Bonds owned by the Company. 

Cost value. 

$5,004,858 46 

600,000 00 

19,900 00 

61,200 00 

75,000 00 

99,000 00 

266,050 00 

182,500 00 

208,700 00 

625,000 00 

1S2,500 00 



Market-value. 

$5,172,300 00 

642,000 00 

13,000 00 

67,200 00 

75,000 00 

99,000 00 

266,050 00 

217,500 00 

208,700 00 

738,500 00 

182,500 00 



1880.] 



OF OTHER STATES. 



41 



Mobile city bonds .... 

Cleveland city bonds 

St. Louis Chamber of Commerce bonds 

New York city bonds 

St. Louis city bonds 

Baltimore and Ohio Railroad bonds . 

St. Louis county park bonds 

Toledo city bonds .... 

Vermont Valley Railroad bonds 

130 shares First National Bank 



100 

25 

157 

10 

10 

160 

300 

210 

50 

100 



City National Bank 
iEtna National Bank 
Phoenix National Bank . 
Charter Oak National Bank 
State Bank 

Fourth National Bank . 
Conn. Trust and Safe Dep. Co 
N. Y., N. H., and Hart. R.R. 
Connecticut River Railroad 
First Nat'l Bank, Litchfield 



Cost value. 

$78,200 00 

81,810 00 

495,000 00 

374,000 00 

270,300 00 

269,375 00 

28,546 88 

50,700 00 

301,500 00 

13,000 00 

10,725 00 

2,500 00 

22,889 00 

1,055 00 

1,275 00 

16,000 00 

30,000 00 

21,000 00 

5,000 00 

12,750 00 



Market-value. 

$78,200 00 

81,810 00 

495,000 00 

401,500 00 

270,300 00 

275,000 00 

28,546 88 

53,760 00 

310,500 00 

15,600 00 

10,300 00 

3,325 00 

26,376 00 

1,380 00 

1,100 00 

19,200 00 

30,000 00 

36,120 00" 

7,950 00 

12,750 00 



1,410,334 34 $9,840,467 88 



EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED 
STATES, NEW YORK, N.Y. 

[Incoporated July 26, 1859. Commenced business July 28, 1859.] 

Paid-dp Capital, $100,000. 

Henry B. Hyde, President. William Alexander, Secretary. 

Note by the Company. — Wherever the term " cash" is used in this statement, it means 
money in hand, or its equivalent in the Company's money obligations. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 

for rents of company's property 

for profit and loss .... 



Total income 
Net or ledger assets Dec. 31, 1879 . 



$6,832,946 06 

1,113,690 89 

301,987 77 

358,026 95 

129,047 76 

$8,735,699 43 
35,980,997 62 



Total 



$44,716,697 05 



42 



LIFE INSURANCE COMPANIES [Dec. 31, 



Disbursements. 

Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 

Cash paid to annuitants 

for surrendered policies .... 
surrender values applied in payment of premiums 
dividends paid policy-holders .... 

Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for advertising ...... 

for incidentals 

for expenses on real estate 

Total disbursements 



Balance $38,409, 844 02 



82,335,243 08 
303,183 60 

$2,638,426 68 

12,473 39 

432,277 41 

320,143 35 

1,389,617 14 

$4,792,937 97 

7,000 00 

479,146 10 

59,748 42 

58,222 68 
242,925 84 

88,848 70 
100,731 52 
101,094 54 

52,373 34 
202,907 85 
120,916 07 

16,306,853 03 



Invested in the following: — 

Assets as per Ledger Accoun 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
deposited in bank ..... 
Agents' ledger balances 

Ledger assets (as per balance) . 



TS. 



$8,368,363 62 

9,053,475 50 

7,064,562 88 

•11,501,013 47 

4,411 08 

2,178,596 15 

239,421 32 

$38,409,844 02 



Other Assets. 
Interest due and accrued ....... 

Rents due and accrued ....... 

Market-value of stocks and bonds over cost 

Uncollected premiums on policies in force, $163,339 00 

Deferred premiums on policies in force . 650,559 36 



Total .... 
Deduct loading (20 per cent) . 
Xet am't uncollected and deferred 



prems 



Total assets per company's books 



$813,898 36 
162,779 67 



303,566 22 

60,242 44 

1,521,051 28 



651,118 69 
. $10,945,822 65 



1880.] 



OF OTHER STATES. 



43 



Items not admitted. 



Agents' balances 

Total admitted assets 



. $239,421 32 
. $40,706,401 33 



Liabilities. 

Computed premium reserve or net present value of all 
outstanding policies (Actuaries' 4 per cent) . . . $33,681,408 00 

Death losses due and unpaid . . . $71,000 00 

Matured endowments due and unpaid . 14,785 14 

Death losses and matured endowments in 
process of adjustment .... 242,351 00 
Total policy claims .... 

Unpaid dividends of surplus due policy-holders 

Liability under three months clause in policies 



Liabilities as to policy-holders .... 
Surplus belonging to Tontine policy- 
holders $3,835,121 00 

Surplus as regards other policy-holders . 2,720,533 19 

Gross surplus as regards policy-holders, 



328,136 14 
71,140 00 
70,063 00 

. $34,150,747 14 



Gross liabilities 



- 6,555,654 19 
. $40,706,401 33 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 41,575$138,562,294 00 

Endowment policies 5,962 18,119,105 00 

All other policies 511 1,475,115 00 

Reversionary additions - 4,201,201 00 



New Policies issued in 1880. 



Whole-life policies , 
Endowment policies 
All other policies 



Old Policies revived during the Year. 



Whole-life policies . 
Endowment policies 
All other policies 
Additions by dividends . 

Total number and amount 



8,239 


27,910,425 00 


709 


2,949,837 00 


175 


508,474 00 


ear. 
515 


2,051,960 00 


85 


241,700 00 


9 


31,500 00 


- 


1,476,909 00 



57,780$197,528,520 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 579 $2,240,18100 

by maturity . 



by expiry 
by surrender 
by lapse 



131 

23 

1,029 

2,209 



278,505 00 

126,750 00 

3,572.547 00 

6,825,250 00 



44 



LIFE INSURANCE COMPANIES [Dec. 31, 



Terminated by change and increase 
Not taken . 

Total terminated 



Number. Amount. 

- $1,418,400 00 
1,537 5,469,184 00 



5,508 $19,930,817 00 



Policies in Force Dec. SI, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 
Reversionary additions 

Totals 



Number. Amount. 

45,706$153,084,118 00 

6,020 18,758,036 00 

546 1,495,839 00 

- 4,259,710 00 



52,272^177,597,703 00 



Schedule A. 

Securities held as Collateral. 

Market-value. 

United States bonds .... $41,609 00 

2,000 shares Rock Island Railroad . . 277,000 00 

700 half-shares Morris and Essex R.R. 

400 shares Chi. and N. Western R.R. . 

250 ' 

700 ' 

300 < 

200 ' 

330 « 

400 « 
1,100 < 



4 New York Central Railroad . 
' Chi. and Rock Island R.R. . 
4 New York Central Railroad . 
' St. Paul Railroad, preferred, 
1 Chi., Burl , and QuincyR.R. 
' Chicago and Alton Railroad . 
< Chi. and N. Western R.R. . 
Chicago and North- Western R.R. bonds . 
500 shares New York Central Railroad . 



2,900 
300 
900 
400 
300 
600 
200 
400 
300 



Chi. and Rock Island R.R. 
Chicago and St. Paul R.R. 



' Chi., Burl , and Quincy R.R. 

' Union Pacific Railroad 

1 New York Central Railroad . 

4 Chi. and N.W. R.R , pref. . 

4 Chi. and N.W. R.R., com. . 

4 Lake Shore Railroad . 

4 North-Western Railroad, pref. 
500 half -shares Del., Lack., and W. R.R. 

St. Paul bonds 

Brooklyn park bonds .... 
659 half-shares Manhattan Gas Co. 
200 shares Panama Railroad 
300 44 Union Pacific Railroad 
400 44 Chi. and N. Western R.R. . 
100 44 Louisville and Nashville R.R. 



42,917 00 
51,100 00 
38,625 00 
98,000 00 
46,350 00 
24,800 00 
59,400 00 
62,000 00 

140,525 00 
12,700 00 
77,250 00 J 

406,000 001 
34,350 00 

162,000 00 
45,000 00 y 
46,350 00 
84,600 00 
25,550 00 
55,400 00 \ 
42,300 00 y 
27,375 00 ) 
68,750 00 
19,500 00 
56,000 00 
42,000 00 I 
33,750 00 ' 
51,100 00 
8,850 00 



Amount loaned. 

$36,700 00 
200,000 00 

100,000 00 
100,000 00 

300,000 00 



500,000 00 



100,000 00 



200,000 00 



1880.] 



OF OTHER STATES. 



45 



500 shares Lake Shore Railroad . 

126 " Chi. and Rock Island R.R. 
1 ,000 half-shares Del., Lack , and W. R. R 
Erie Railroad bonds 
500 shares North-Western Railroad . 
200 " Rock Island Railroad 
100 " New York Central Railroad 
Wabash, St. L , and Pac. mort. b'ds. gen'l 
Wabash, St. L., and Pac. mort. b'ds. first, 
1,000 shares Central Park, North River, 

and East River Railroad 
St. Paul bonds .... 

200 shares New York Central Railroad 
St. Paul consolidated bonds 
Missouri, Kan., and Texas exten. bonds 
Union Pacific land grant . 
Morris and Essex bonds . 
Union Pacific bonds 
Missouri, Kansas, and Texas bonds 
Chesapeake and Ohio bonds 
200 shares New York Central . 



500 
500 
500 
500 
200 
200 
200 



" New York Central . 

" Chicago and Rock Island 



' New York Central . 

' Chicago and Rock Island 

' Chicago, Burl., and Quincy 

' St. Paul, preferred . 

* Chicago and North- Western 
St. Paul bonds .... 

315 half-shares Pennsylvania Coal Co. 
400 shares Chi. and North-Western R.R 
Missouri Pacific mortgage bonds 
Missouri, Kansas, and Texas bonds 
Jackson and Chicago bonds 
Minnesota and St. Louis bonds 
Erie Railroad bonds 
300 shares New York Central Railroad 
North- West consolidated bonds 
100 shares Union Pacific . 
Lafayette, Bloomfield, Marietta bonds 
St. Paul convertible bonds 
St. Louis and Nashville bonds 
St. Paul, I., and D. Ex's bonds 
500 shares Chi., Bur., and Q. R.R. bonds 
District of Columbia bonds 
New York Central bonds 



Market-value. 

$69,250 00 
17,640 00 
54,750 00 

13,260 oo y 

63,875 00 

28,000 00 

15,450 00 J 

267,000 00 

187,000 00 j 

105,000 00 > 

133,350 00 

30,900 00 J 

106,680 00 ) 

9,720 00 

3,420 00 

3,540 00 

1,180 00 )- 

5,625 00 

12,250 00 

30,900 00 

77,250 00 I 

70,000 00 > 

77,250 00 > 

70,000 00 > 

36,000 00 1 

24,800 00 • 



25,550 00 . 
39,300 00 J 
33,862 00 
51,100 00 

2,100 00 
16,875 00 )■ 
11,000 00 

5,500 00 

5,100 OOJ 
46,350 00^ 

8,890 00 | 
11,250 00J 
10,800 00 

2,500 00 

7,350 00 }■ 
16,250 00 
90,000 00 
282,700 00 

1,050 00 



Amount loaned. 

1200,000 00 

257,862 88 

200,000 00 

100,000 00 
100,000 00 



50,000 00 

100,000 00 
100,000 00 



y 100,000 oo 



100,000 00 



50,000 00 



100,000 00 



250,000 00 



46 



LIFE INSURANCE COMPANIES [Dec. 31, 



400 half-shares Morris and Essex R.R. 

100 shares New York Central bonds 

400 " Union Pacific bonds 

200 " Chic, Burl., and Quincy R.R 

Lake Shore bonds, registered 

Lake Shore bonds, coupon 

United States bonds 

St. Paul bonds 

New Jersey Central bonds 

United States bonds 

Iron Mountain bonds 

1,100 shares St. Paul, preferred 

1,500 " Union Pacific 

1,500 " Michigan Central 

2,500 " Chicago and Rock Island 

2,600 " Mercantile Safe Dep. Co. 

1,000 " Lake Shore Railroad . 

Lake Shore Railroad bonds 

1,000 shares Lake Shore Railroad . 

400 " New York Central 
50 " Lake Shore Railroad . 
Erie Railroad bonds 
United States bonds, registered 
Erie Railroad bonds 
500 shares Chicago and North- Western 
500 " Union Pacific . 
Iron Mountain bonds 

500 shares New York Central 

300 " North- West, preferred . 

100 " North-West, common . 
1,200 •• New York Central 

600 " Chic, and North- West., com 
1,600 " New York Central 

100 " Chicago and Rock Island 

200 " Lake Shore . 
Erie bonds ..... 
Missouri, Kansas, and Texas bonds 
100 shares St. Paul, preferred . 
100 " Lake Shore 
Cairo, Arkansas, and Texas bonds . 
Toledo, Wab., and Western bonds, com 
Troy and Boston bonds . 
500 shares North- West Railroad 
Union Pacific bonds 
Albany and Susquehannah bonds 
Western Pacific bonds 
Buffalo state line bonds . 
Buffalo and Erie bond 
Metropolitan Elevated Railroad 



Market-value. 

$21,525 001 



Amount loaned. 



15,450 00 



45,000 00 
86,000 00 j 

12,800 00 
5,240 00 
5,231 00 
6,200 00 > 
1,120 00 
4,185 00 
1,190 00J 
136,400 00 
168,750 00 j 
193,875 00 C 
350,000 00) 
390,000 00 
138,500 00 

64,000 001 

138,500 00 I 

61,800 00 [ 

6,925 00 j 

122,400 00 

112,500 001 

12,000 00 I 

63,875 00 j 

56,250 00 j 

88,000 00 

77,250 00 y 

42,300 00 C 

12,750 00 ) 

185,400 00 > 

76,650 00 > 

247,200 00 y 

14,000 00 [■ 

27,700 00) 

8,400 001 



V $100,000 00 



28,125 00 ' 



Y 



12,400 00 
13,850 00 j 
10,725 00 ) 
11,100 00 3 
5,500 001 
63,875 00 ' 
4,720 00 
2,180 00 
2,280 00 
1,020 00 
615 00 
1,060 00 j 



30,000 00 

100,000 00 

500,000 00 

175,000 00 
100,000 00 

200,000 00 

100,000 00 

200,000 00 

70,000 00 
100,000 00 

200,000 00 
200,000 00 

50,000 00 
20,000 00 



Y 65,000 00 



1880.] 



OF OTHER STATES. 



47 



United States bonds 

900 shares New York Central . 

Erie bonds ..... 

United States bonds, coupon . 

1,400 shares St. Paul Railroad 
200 " New York Central 

1,400 " St. Paul Railroad 
200 " New York Central 

1,300 " Union Pacific 
400 half-shares Del., Lack., and Western 
300 shares New York Central 
100 " Chicago and North -Western 
400 half -shares Morris and Essex R.R. 
100 shares Michigan Central 



100 
200 
200 
100 
400 
100 
300 
400 



Union Pacific 
Rock Island . 
Lake Shore . 
New York Central 
Chicago and Rock Island 



New York Central 
Chicago and North-Western 
St. Paul Railroad 
600 half-shares Del., Lack., and West 

New Jersey Central bonds 

300 shares North-Western, preferred 

500 " North-Western, common . 

200 " Chicago and Rock Island 

600 " Union Pacific . 

100 " Del., Lack., and West. R.R. 



Market-value. 

$562,500 00"] 

139,050 00 | 
10,200 00 y 
34,012 00 ! 

160,300 00 J 
30,900 001 

160,300 00 ! 
30,900 00 j 

146,250 00 j 
21,900 00 
46,350 00 
12,775 00 
24,500 00 
12,925 00 
11,250 00 J 
28,000 00) 
27,700 00 C 
15,450 00) 
56,000 00 ) 
15,450 00 > 
38,325 001 
45,800 00 ' 



32,850 00 ( 
4,750 00 j 
42,300 00 » 
63,875 00 V 
28,000 00) 
67,500 00 ) 
5,475 00 i 



Amount loaned. 



•$840,000 00 



300,000 00 



>■ 100,000 00 



50,000 00 
60,000 00 



y 100,000 oo 



100,000 00 
60,000 00 



1,348,171 00 $7,064,562 88 



Schedule B. 



Stocks and Bonds 



United States bonds 
New York City bonds 
Brooklyn city bonds 
Rochester city bonds 
Sharon city bonds . 
Yonkers city bonds . 
Little Valley town bonds 
Virginia state stock . 
Newark city bonds . 
Jersey city bonds 
Hoboken city bonds 
Cleveland city bonds 
Seneca town bonds . 



owned by the Company. 

Cost value. 

$2,513,591 00 

2,331,963 00 

170,871 25 

55,500 00 

11,500 00 

56,562 50 

2,000 00 

14,898 19 

722,445 00 

95,101 00 

208,^)5 00 

291,533 75 

40,000 00 



Marketrvalue. 

$2,811,250 00 

2,566,842 00 

223,830 00 

68,000 0.0 

12,075 00 

66,000 00 

2,130 00 

17,000 25 

797,680 00 

102,000 00 

217,300 00 

318,730 00 

42,700 00 



48 



LIFE INSURANCE COMPANIES [Dec. 31, 



Columbus (O.) bonds 

Louisville (Ky.) bonds 

Dayton (O.) bonds . 

St. Louis (Mo.) city bonds 

St. Louis (Mo.) county bonds . 

Mercantile Trust Company stock 

Fort Wayne (Ind.) bonds 

Fall River (Mass.) bonds 

Erie Railroad bonds 

Buffalo, New York, and Erie R R. bonds 

Delaware and Hudson Canal bonds . 

Albany and Susquehannah R R. bonds 

Chicago, Mil., and St. Paul R.R. bonds 

St. Louis, Kan. City, and No. R.R. bonds 

No. Missouri Railroad 1st mort. bonds 

111. and So. Iowa R.R. 1st mort. bonds 

Toledo and Wabash R.R. 1st. mort. b'ds, 

Syracuse, Bing., and N. Y. R.R. bonds . 

Chi. and N.W. R.R. sinking-fund bonds, 

St. Louis and Iron Mountain R.R. bonds, 

Morris and Essex Railroad bonds 

Watertown and Rome Railroad bonds 

Hannibal and St. Joseph Railroad bonds, 

Missouri Pacific Railroad bonds 

Troy and Boston Railroad bonds 

2,000 shares Morris and Essex Railroad . 



Cost value. 

$8,400 00 

106,000 00 

110,624 00 

582,200 00 

10,775 00 

1,009,032 78 

103,050 00 

103,500 00 

588,349 00 

47,641 00 

176,304 00 

108,365 00 

257,750 00 

66,135 00 

17,511 00 

53,363 00 

52,573 00 

45,600 00 

209,500 00 

11.542 00 

227,500 00 

432,075 00 

21,558 00 

256,250 00 

272,035 00 

109,010 00 



Marketrvalue. 

88,840 00 

113,750 00 

117,102 50 

642,560 00 

11,600 00 

1,507,500 00 

106,000 00 

109,250 00 

652,500 00 

50,400 00 

183,750 00 

120,000 00 

280,000 00 

69,440 00 

18,450 00 

54,855 00 

55,000 00 

46,800 00 

222,000 00 

11,900 00 

248,000 00 

460,880 00 

22,200 00 

262,500 00 

276,250 00 

125,000 00 



$11,501,013 47 813,022,064 75 



GERMANIA LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated April 10, 1860. Commenced business July 16, 1880.] 

Paid-up Capital, §200,000. 

Hugo Wesendonck, President. Cornelius Doremus, Secretary. 

Income. 
Total premium income ...... 



Cash received for interest on stocks, bonds, and loans 
as discount on claims paid in advance 
for rents of company's property 
for policy fees .... 



Total income 
Net or ledger assets Dec. 31, 1879 

Total .... 



81,235,741 32 

410,621 24 

12 70 

42,117 15 

451 25 

$1,688,943 66 
8,428,353 69 

$10,117,297 35 



1880.] 



OF OTHER STATES. 



49 



Disbursements. 
Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

for surrendered policies .... 

surrender values, including reconverted additions ap- 
plied in payment of premiums 
dividends paid policy-holders, applied in payment of 
premiums 



Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 

for taxes and fees 

for rent 

for commuting commissions 

for furniture and office fixtures 

for advertising and printing 

for incidentals 

Total disbursements 



Balance 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 

deposited in bank 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets . 

Total net or ledger assets .... 



$510,923 09 
124,633 66 

$635,556 75 

2,504 20 

181,838 14 

10,238 39 

158,054 32 

$988,191 80 
24,000 00 
135,476 80 
56,991 83 
15,346 89 
62,772 18 

9,087 43 
12,212 76 

1,394 50 

2,367 36 
19,065 70 

5,507 48 

$1,332,414 73 
$8,784,882 62 



$1,186,375 62 

4,713,049 41 

439,700 00 

2,319,038 17 

39,265 97 

87,453 45 

$8,784,882 62 
128,819 12 

$8,656,063 50 



Other Assets. 

Interest due and accrued 

Market-value of stocks and bonds over cost 

Total assets as per company's books . 

7 



58,032 49 
82,104 33 

. $8,796,200 32 



50 LIFE INSURANCE COMPANIES [Dec. 31, 

Liabilities. 
Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . . $8,135,279 00 
Less net amount of uncollected and deferred premiums . 206,950 00 

$7,928,328 04 
Death losses due and unpaid . . . $8,401 90 

and matured endowments in 

process of adjustment . 117,144 41 

Claims resisted by the company . . 26,505 49 

Total policy claims .... $152,111 80 

Unpaid dividends of surplus due policy-holders . . 32,800 80 

Due for rent . ... . . . . . . 1,750 00 

Extra reserve for lapsed, war, and other policies . . 21,010 16 

Liabilities as to policy-holders ..... $8,130,606 80 
Surplus as regards Tontine policy-holders, $23,364 85 
as regards other policy-holders . 636,228 67 
Gross surplus as regards policy-holders, 659,593 52 

Gross liabilities $8,796,200 32 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

dumber. Amount. 

Whole-life policies 14,032 $24,325,032 00 

Endowment policies 5,303 7,038,980 00 

All other policies ...... 

New Policies issued in 1880. 

Whole-life policies 

Endowment policies ..... 
All other policies 

Old Policies revived during the Year 

Whole-life policies 

Endowment policies 

Old Policies increased during the Year. 

Endowment policies 

All other policies ...... 

Additions by dividends ..... 

Total number and amount . . . 21,981 $30,847,057 00 

Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 306 $611,618 00 

by maturity 93 128,418 00 

by expiry 1 

by surrender 506 9S3,462 00 



262 


731,383 00 


690 


1,083,476 00 


1,453 


2,001,217 00 


142 


317,352 00 


ear. 




12,718 00 


3 


3,500 00 


Year. 
22 


20,700 00 


2 


- 


- 


52,033 00 



1880.] 



OF OTHER STATES. 



51 



Terminated by lapse 

by change and decrease 
Not taken 



Number. Amount. 

469 $658,607 00 

33 31,209 00 

264 548,821 00 



Total terminated 



1,792 $2,962,135 00 



Policies in Force Dec. 81, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 

Totals 
Industrial policies in force 



Number. Amount. 

13,732 $24,343,207 00 

6,107 8,649.200 00 

350 893,115 00 



20,189 $33,885,522 00 
7,841 $890,493 00 



United States bonds 



Schedule A. 
Securities held as Collateral. 

Market-value. 

$458,121 25 
Schedule B. 



Stocks and Bonds owned by the Company. 

Par value. 

United States bonds .... $1,605,000 00 

30,000 00 
10,000 00 

375,000 00 
25,000 00 

150,000 00 



Virginia state bonds 
Mississippi state warrants 
New York city bonds - . 
New York county bonds . 
Brooklyn city bonds 



Amount loaned. 

$439,700 00 



Market-value. 

L,749,692 50 

9,600 00 

7,500 00 

429,500 00 

27,250 00 

177,600 00 



$2,195,000 00 $2,401,142 50 



HOME LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated April 30, 1860. Commenced business May 1, I860.] 

Paid-up Capital, $125,000. 

George C. Ripley, President. Joseph P. Holbrook, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 
for rents of company's property 



$440,041 86 

230,943 12 

3,795 55 



Total income 
Net or ledger assets Dec. 31, 1879 



$674,780 53 
4,728,298 20 



Total 



$5,403,078 73 



52 



LIFE INSURANCE COMPANIES [Dec. 31, 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 

Cash paid to annuitants 

for surrendered policies ..... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash dividends paid policy-holders .... 
Premium notes or loans used in payment of dividends 

Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 

for taxes and fees 

for rent 

for advertising 

for incidentals 

Total disbursements 



Balance 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) • 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash deposited in bank ..... 
Agents' ledger balances 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets . 

Total net or ledger assets .... 

Other Assets. 

Interest due and accrued ..... 

Rents due and accrued 

Market-value of stocks and bonds over cost 



$184,244 29 

19,263 71 

126,765 49 

23,262 51 

$353,536 00 

1,167 17 

26,132 76 

26,626 97 
29,063 54 
70,613 59 

$507,140 03 

15,000 00 

41,998 02 

21,553 85 

2,718 70 

28,063 18 

5,051 11 

8,376 46 

3,725 53 

11,062 71 

$644,689 59 

$4,758,389 14 



$276,085 71 

897,650 00 

899,809 25 

776,444 11 

1,842,888 72 

55,603 53 

9,907 82 

$4,758,389 14 

22,500 00 

$4,735,889 14 



24,814 49 

1,321 50 

104,411 28 



1880.] 



OF OTHER STATES. 



53 



Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total ..... 
Deduct loading (20 per cent) . 
Net am't uncollected and deferred prems 



$59,112 73 
21,647 58 



,760 31 
16,152 06 



Total assets per company's books 

Items not admitted. 



Agents' balances 

Total admitted assets 

Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks .... 

Net re-insurance reserve 

Matured endowments due and unpaid . $7,000 00 

Death losses in process of adjustment . 39,169 00 

Claims resisted by the company . . 7,000 00 

Total policy claims .... 

Unpaid dividends of surplus due policy-holders 

Liabilities as to policy-holders ..... 
Surplus as regards policy-holders 

Gross liabilities 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $814,338 43 

received during 1880 . 128,666 90 

Total 

Used in payment of losses and claims . $42,526 22 
of surrendered policies, 

and voided by lapse . 26,626 97 
of dividends to policy- 
holders . . . 70,613 59 
Redeemed by maker in cash . . . 26,794 44 
Total 



Balance note assets Dec. 31, 1880 



$64,60S 25 
: ,931,044 66 

9,907 82 
L,921,136 84 



$3,652,461 00 
21,261 00 

$3,631,200 00 



53,169 00 
15,595 23 

$3,699,964 23 
1,221,172 61 

$4,921,136 84 



$943,005 33 



166,561 22 
$776,444 11 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 6,310 $12,400,160 00 

Endowment policies 1,103 1,896,774 00 

All other policies 11 4,000 00 

Reversionary additions - 7,529 00 



54 



LIFE INSURANCE COMPANIES [Dec. 31, 

New Policies issued in 1880. 



Whole-life policies . 
Endowment policies 



609 $1,153,726 00 
180 315,703 00 



Old Policies revived during the Year. 

Whole-life policies 15 

Endowment policies ..... 3 

Additions by dividends ..... - 



27,242 00 
5,500 00 
2,264 00 



Total number and amount 



8,231 $15,812,898 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death. 82 $203,508 00 

by maturity 80 150,028 00 

by surrender 352 703,995 00 

by lapse 130 182,800 00 

by change and decrease . . - 15,300 00 

Not taken 120 209,200 00 



Total terminated 



764 $1,464,831 00 



Policies in Force Dec. SI, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 
Reversionary additions 

Totals 



Number. Amount 

6,342 $12,401,251 00 

1,114 1,933,820 00 

11 4.000 00 

8,996 00 



7,467 $14,348,067 00 



Schedule A. 

Securities held as Collateral. 

Market- value. Amount loaned. 

25 shares Nassau National Bank . . $3,750 00 $2,000 00 

50 " Home Fire Insurance Company, 6,000 00 5.000 00 

100 " Union Trust Company . . 15,000 00 6,000 00 

125 " Mechanics' Bank . . . 10,000 00 6,000 00 

20 " Nassau National Bank . . 3,000 00 1,000 00 

10 " Bowery National Bank . . 1,200 00 1,000 00 

Prospect Park bond 1,250 00 1,000 00 

150 shares Central Trust Company . . 21,000 00 12,500 00 

350 " Metropolitan National Bank . 40,250 00 31,500 00 

Prospect Park bonds .... 6,000 00 5,000 00 

21 shares New York Gas Company . 1,900 00 1,800 00 

1,284 " Brooklyn City Gas Company, 33,700 00 j 

50 " German American Ins. Co. . 6,500 00 C 50,000 00 

145 " Nassau National Bank . . 21,750 00) 

803 " Central National Bank . 80,300 00 > 10Q 000 ^ 

285 " Fourth National Bank . . 28,500 00 ) 



1880.] 



OF OTHER STATES. 



55 



40 shares Mechanics' National Bank 
15 u Nassau National Bank . 
20 " Atlantic' State Bank . 
20 " Mechanics' Fire Ins. Co. 

13 " Montauk Fire Insurance Co 

14 " Nassau Fire Insurance Co. 
12 " Nat'l Shoe and Leather Bank, 

100 '* Union Trust Company . 
70 " Germania Insurance Co. 
42 " Standard Fire Insurance Co 

50 " Bank of Commerce 
250 " Central Trust Company 

31 " New York Life Ins. Co. 
300 " Renns. and Saratoga R.R. 
20 " Nassau National Bank . 
30 M Home Fire Insurance Co. 
44 " Broadway Insurance Co. 
40 " Phenix Insurance Co. . 

51 " Brooklyn Bank . 
1,000 " Brooklyn City Railroad 
Suspension Bridge mortgage bonds . 
Erie Railroad second mortgage bonds 
600 shares Lake Shore Railroad 
Erie Railroad second mortgage bonds 
United States bonds 

Albany and Susquehanna 2d mort. bonds 
Second Avenue Railroad bonds 
United States bonds 
Erie Railroad second mortgage bonds 
United States bonds 
Erie consolidated mortgage bonds . 
30 shares Cent. Park and N. and E.R. R.R 



10 

100 
100 
100 
200 
220 



Knickerbocker Ice Company 
Chicago and Alton Railroad 
Wabash, St. L., and P , pref 
Wabash, St. L., and P., com 
Chesapeake and Ohio Railroad, 
New York Central Railroad 



Market-value. 

$3,200 001 
2,250 00 
2,000 00 
1,500 00 
650 00 
700 00 
1,400 00 

15,000 00 j 
4,600 00 C 
2,600 00 > 
9,500 001 



Amount loaned. 

$3,500 00 

1,200 00 
6,600 00 



35,000 00 



6,200 00 
36,000 00 j 
3,000 001 
3,600 00 I 
1,600 00 } 
2,500 00 j 
3,300 00 J 
16,000 00 
13,000 00 
51,000 00 > 
70,000 00 > 
272,000 00 
5,500 001 
5,000 00 j 
13,600 00 y 
2,000 00 | 
89,250 00 j 
10,300 00 
125,000 00 
3,000 00 I 
1,000 00 > 
13,500 001 
3,800 00 I 
2,500 00 ]► 
3,000 00 j 
31,000 00 J 



y 50,000 oo 



7,404 25 

4,000 00 
10,000 00 

100,000 00 
250,000 00 

106,330 00 



10,300 00 
100,000 00 

2,675 00 



25,000 00 



,145,150 00 $899,809 25" 



Schedule B. 

Stock and Bonds owned by the Company. 

Cost value. 

United States bonds .... $1,133,491 22 

Brooklyn city bonds .... 509,697 50 

Kings county bonds 146,037 50 

New York city bonds .... 53,662 50 



Market-value. 

$1,028,500 00 

700,800 00 

164,000 00 

54,000 00 



$1,842,888 72 $1,947,300 00 



56 



LIFE INSURANCE COMPANIES [Dec. 31, 



HOMCEOPATHIC MUTUAL LIFE INSURANCE COMPANY OF 

NEW YORK. 

[Incorporated July 18, 1868. Commenced buBiness July 18, 1868.] 

Paid-up Capital, $100,000. 

Edwin M. Kellogg, President. Frank B. Mayhew, Secretary. 

Income. 

Total premium income 898,408 05 

Cash received for interest on stocks, bonds, and loans . 30,769 78 

for interest on other debts due the company, 2,416 76 

for rents of company's property . . 1,690 54 

for profits on bonds and stocks sold . . 14,363 52 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 
Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 

surrender values, including reconverted additions ap- 
plied in payment of premiums 
dividends paid policy-holders, $1,859.17; applied in 
payment of premiums, $1,100.06 

Total paid policy-holders 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiners' fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for commuting commissions 
for furniture and office fixtures 

for advertising 

for incidentals 

Total disbursements 

Balance 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 



$147,648 65 


606,424 33 


$754,072 98 


$37,868 50 


8,394 00 


$46,262 50 


25,124 78 


19,855 00 


2,959 23 


$94,201 51 


3,639 47 


2,288 50 


289 34 


10,707 37 


1,836 29 


2,000 00 


1,183 33 


49 80 


1,064 76 


7,936 02 


$125,196 39 



$628,876 59 



$38,430 00 
212,769 37 
193,850 00 



1880.] 



OF OTHER STATES. 



57 



Loans on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 
deposited in bank ..... 
Agents' ledger balances ..... 

Ledger assets (as per balance) . 



Other Assets. 

Interest due and accrued . 
Rents due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 



Total 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems 

Total assets per company's books 



$7,279 76 
12,913 78 

$20,193 54 
4,038 70 



$15,847 82 
154,250 00 

332 96 
13,121 60 

274 84 

$628,876 59 



3,182 99 

316 00 

1,200 00 



16,154 84 
$649,730 42 



Items not admitted. 
Agents' balances 

Total admitted assets 

Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Deduct net value of re -insured risks 



274 84 



Net re-insurance reserve . 
Death losses and matured endowments in 

process of adjustment . 
Claims resisted by the company 

Total policy claims . 
Advance premiums .... 
Reserve on lapsed policies 
Reserve for possible depreciation 
All other liabilities .... 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities 



$5,689 24 
9,842 77 



$649,455 58 



$554,958 00 
9,721 00 

$545,237 00 



15,532 01 
1,046 04 
6,000 00 
7,000 00 
2,500 00 

$577,315 05 
72,140 53 

$649,455 58 



Exhibit of Policies. 
Policies and Additions in Force Dec. 81, 1879. 

Number. Amount. 

Whole-life policies 1,522 $2,326,428 00 

Endowment policies 474 464,092 00 

All other policies 265 498,746 00 

8 



58 



LIFE INSURANCE COMPANIES [Dec. 31, 



Whole-life policies . 
Endowment policies 
All other policies 



New Policies issued in 1880. 



Number. Amount. 

440 $403,114 00 

78 74,963 00 

61 139,701 00 



Old Policies revived during the Year. 
Whole-life policies .... 
Endowment policies 

Total number and amount 

Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by expiry 

by surrender 

by lapse 

by change and decrease 
Not taken 



Total terminated 



Policies in Force Dec. 31, 1880 



Whole-life policies . 
Endowment policies . 
All other policies 

Totals 



11 


11,660 00 


1 


1,000 00 


2,852 


$3,919,704 00 


e Year. 




Number 


Amount. 


28 


$39,831 00 


6 


8,394 00 


57 


98,500 00 


145 


242,352 00 


224 


307,200 00 


20 


22,281 00 


41 


50,553 00 


521 


$769,111 00 


Number. 


Amount. 


1,617 


$2,200,284 00 


467 


446,762 00 


247 


503,547 00 



2,331 $3,150,593 00 



Schedule A. 



Securities held as Collateral. 

Market-value. 

$3,630 00 
1,270 00 



33 shares Fifth National Bank, N.Y. 

20 " Farragut Fire Insurance Co. 

60 " Hamilton Fire Insurance Co. 
100 " Am. Needle and Fish-Hook Co 
Life policy assigned 
Arcadia town bond . . • 
10 shares Williamsburgh City Fire Ins. Co 
10 " Williamsburgh City Fire Ins. Co 
Dry Dock, E. B'd'y, andBatteryR.R.b'ds, 
United States bonds . 

80 shares Merchants' Exch. Nat'l Bank . 



1,215 00 

2,750 00 

3,037 00 

550 00 

1,000 00 

1,000 00 

34,500 00 

165,475 00 

4,000,00 



Am unt loaned. 

$3,300 00 
650 00 

5,550 00 

500 00 

350 00 

500 00 

30,000 00 

150,000 00 

3,000 00 



$218,427 00 $193,850 00 



1880.] 



OF OTHER STATES. 



59 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds .... $123,000 00 



New York city bonds 
Arcadia (N.Y.) town bonds 
Second Avenue Railroad Company 
Yates (N.Y.) town bonds 



1,500 00 

5,000 00 

20,000 00 

4,750 00 



Market-value. 

$123,000 00 

1,500 00 

5,000 00 

21,200 00 

4,750 00 



$154,250 00 $155,450 00 



MANHATTAN LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated 1850. Commenced business Aug. 1, 1850.] 

Paid-up Capital, $100,000. 

Henry Stokes, President. Jacob L. Halsey, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property 
for profits on bonds and stocks sold 

Adjusted fire loss and suspense account . 

Total income ...... 

Net or ledger assets Dec. 31, 1879 . 

Total 

Disbursements. 

Cash paid for losses and additions . 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Cash paid to annuitants ..... 

for surrendered policies . 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 
Cash dividends paid policy-holders, applied in payment of 
premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for dividends to stockholders . 
for commissions to agents 



$1,032,722 50 

433,622 95 

93,450 15 

5,466 53 

45,716 29 

9,516 88 

3,421 74 

$1,623,917 04 
9,706,101 68 

$11,330,018 72 



$677,890 66 

52,331 34 

120,011 67 

21,111 33 

$871,345 00 

5,517 71 

114,045 07 

66,710 89 

192,678 44 
10,669 18 

$1,260,960 29 
40,000 00 
86,287 05 



60 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees ..... 

for rent 

for advertising ..... 

for incidentals 

for expenses on real estate 

Total disbursements 



Balance 



Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office .... 
deposited in bank .... 

Ledger assets (as per balance) . 

Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 



Total ...... 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems. 



$66,491 90 
80,961 59 

$147,453 49 
29,490 70 



$13,659 09 
7,551 00 
60,201 53 
7,164 39 
11,750 00 
10,124 41 
17,310 00 
38,181 07 

$1,553,195 43 

$9,776,823 29 



$1,111,072 02 
3,464,943 34 
2,377,180 14 
1,489,114 09 
1,208,483 72 
10,936 14 
115,093 84 

$9,776,823 29 

146,853 94 

1,514 98 

108,134 28 



Total assets per company's books 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Death losses due and unpaid . 

and matured endowments in 
process of adjustment 
Claims resisted by the company 

Total policy claims . 
Unpaid dividends of surplus due policy-holders 

Due for adjusted fire loss 

all other liabilities (estimated) . 

Liabilities as to policy-holders . 



117,962 79 
. $10,151,289 28 



$8,380,161 00 



$363 89 

222,747 00 
24,500 00 



247,610 89 

62,343 49 

3,309 74 

11,690 26 

1,705,115 38 



1880.] OF OTHER STATES. 61 

Surplus as regards Tontine policy-holders, $24,557 85 
as regards other policy-holders . 1,421,616 05 
Gross surplus as regards policy-holders, $1,446,173 90 

Gross liabilities $10,151,289 28 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $1,588,497 88 

received during 1880 . 77,932 63 

Total $1,666,430 51 

Used in payment of losses and claims . $73,442 67 
of surrendered policies, 

and voided by lapse . 66,710 89 
of dividends to policy- 
holders . . . 10,669 18 
Redeemed by maker in cash . . . 12,760 96 
Charged agents for collection . . . 13,732 72 

Total 177,316 42 



Balance note assets Dec. 31, 1880 .... $1,489,114 09 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 10,237 $30,773,698 00 

Endowment policies 1,179 2,453,550 00 

Reversionary additions - 105,370 00 

New Policies issued in 1880. 

Whole-life policies 976 $2,531,278 00 

Endowment policies 128 271,204 00 

Additions by dividends - 391 00 



Total number and amount . . . 12,520 $36,135,491 00 
Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 204 $730,222 00 

by maturity . 

by purchase . 

by lapse 

by change 
Not taken .... 

Total terminated 1,169 $3,527,366 00 

Policies in Force Dec. 81, 1880. 

Number. Amount. 

Whole-life policies 10,238 $30,187,381 00 

Endowment policies 1,113 2,322,923 00 

Reversionary additions • - 97,821 00 



67 


141,123 00 


152 


370,878 00 


378 


1,135,838 00 


148 


532,250 00 


220 


617,05o 00 



Totals 11,351 $32,608,125 00 



62 



LIFE INSURANCE COMPANIES [Dec. 31, 



390 shares Citizens' Bank 



Schedule A. 

Securities held as Collateral. 

Market-value. 

$9,945 00 



31 " Eighth Avenue Railroad. 
180 " Broadway Bank 
100 " Third Avenue Railroad . 
100 " Citizens' Bank 
125 " Shoe and Leather Bank . 

60 " Citizens' Gas Co., Brooklyn 
2 " Metropolitan Gas Co., Brooklyn 

80 " Albany and Susquehanna R.R 

10 " N. Y. Guar, and Indem. Co. 

89 " Manhattan Company 

90 " Bank of the Metropolis . 
314 " N. Y. Central and H. R. R.R 
United States bonds 

10 shares Metropolitan Gas Company 
20 " Union Trust Company 
40 " Citizens' Bank . 
United States bond .... 
10 shares Panama Railroad . 
50 " Citizens' Fire Insurance Co 
1 ,300 " N. Y. Central and H. R. R. R 

200 " Manhattan Gas Company 

508 " Harlem Railroad preferred 

400 " Citizens' Bank 
Central Pacific first mortgage bonds 
St. Paul sinking-fund bonds . 
Union Pacific first mortgage bonds . 
800 shares N. Y. Central and H. R. R.R 
300 " Wabash preferred . 
200 " Union Pacific Railroad . 

50 " N. Y. Central and H. R. R.R 
Erie Railroad second mortgage bonds 
100 shares Panama Railroad . 
300 " Metropolitan Elevated R.R. 
100 " New York Elevated Railroad 
100 " N. Y. Central and H. R. R.R. 
100 " Morris and Essex Railroad 
Metropolitan Elevated Railroad bonds 
Texas Pacific Inc. bonds . 
Kansas Pacific consolidated bonds . 
400 shares C. C. C. and Indianopolis R.R 
.300 " Erie Railroad . 
400 " Chic, Burl., and Quincy R.R 
150 " New York Elevated Railroad 
400 " Delaware and Hudson 
100 " Morris and Essex . 



5,425 00 

11,025 00 

19,500 00 

2,550 00 

15,250 00 

672 00 

110 00 

9,600 00 

1,250 00 

6,007 50 

9,900 00 

48,473 75 

15,693 75 

1,300 00 

3,500 00 

1,020 00 

224 75 

2,120 00 

1,900 00 

200,687 50 

17,000 00 

50,800 00 

10,200 00 

3,525 00 

33,020 00 

5,875 00 

123,500 00 

25,987 50 

22,500 00 

7,718 75 

15,225 00 

21,200 00 

32,100 00 

12,400 00 

15,437 50 

6,075 00 

10,600 00 

7,500 00 

20,925 00 

38,400 00 

15,187 50 

71,900 00 

18,600 00 

36,900 00 

6,075 00 



Amount loaned. 

$3,500 00 

3,800 00 
12,000 00 

12,000 00 
1,500 00 

5,380 14 

5,000 00 

8,000 00 

18,000 00 

15,000 00 

5,000 00 

1,000 00 

1,000 00 

109,000 00 

35,000 oO 

9,000 00 

3,000 00 

25,000 00 

5,000 00 

100,000 00 

50,000 00 



100,000 00 



100,000 00 
50,000 00 



1880.] 



OF OTHER STATES. 



63 



800 shares Del , Lack., and Western R.R. 
300 " Western Union 
82 " Rock Island . 
200 " New York Elevated Railroad . 
New York Elev. R.R. 1st mortgage bonds, 
Pittsburgh, Ft. Wayne, and Chic, bonds, 
St. Paul consolidated sinking-fund bonds, 
Missouri, Kansas, and Texas bonds 
200 shares North- Western preferred 
200 " Oregon Navigation 
200 " Louisville and Nashville 
110 u Chicago, Burl., and Quincy 
100 " Western Union 

50 u C. C. C. and Indianapolis 
St. Paul, So. Minnesota Division 
Buffalo and Erie bonds . . 
100 shares Bank of North America . 
300 " Erie .... 
100 " Jersey Central 
400 " Del., Lack., and Western 
500 " Lake Shore . 
100 " Chicago, Burl., and Quincy 
200 " Western Union 

Erie funded 

Erie second mortgage bonds 

Great Western second mortgage bonds 

1,400 shares Del., Lack., and Western 

300 " Erie .... 

300 " Jersey Central 

100 " N. Y. Central and H. R. R. R 
Erie funded ..... 
Erie second mortgage bonds 
Winona and St. Peter's bonds 

900 shares Erie .... 



,200 ' 


' Del., Lack., and Western 


200 ' 


' Jersey Central 


100 < 


' Delaware and Hudson . 


100 « 


4 North- Western 


50 ' 


' Chicago, Alton, and St. Louis, 


100 ' 


' Pennsylvania Coal Company, 


100 ' 


' Delaware and Hudson . 


100 ' 


' Metropolitan Elevated R.R. . 


300 « 


' Jersey Central 


100 < 


' Union Pacific 


100 ' 


' St. Paul preferred 


300 < 


' St. Paid and Omaha pref. 


100 * 


' Louisville and Nashville 


100 ' 


' American Express 



Market -value. 

$43,800 001 

24,450 00 

11,336 50 

24,800 00 

2,400 00 

3,600 00 

6,350 00 

11,225 00 

28,200 00 

26,850 00 

17,800 00 

19,772 50 

8,112 50 

4,800 00 
11,100 00 
12,300 00 

6,790 00 
15,187 50 

8,462 50 
21,900 00 
67,250 00 
17,975 00 
16,225 00 

7,800 00 

4,060 00 

1,085 00 
76,650 00 1 
15,187 50 ' 
25,387 50 
15,437 50 '}■ 
12,675 00 
10,150 00 

6,000 00 j 
45,562 50 
65,700 00 
16,925 00 

9,225 00 
12,775 00 

7,700 00 
10,750 001 

9,225 00 
10,700 00 
25,387 50 
11,250 00 y 
12,400 00 
29,175 00 

8,900 00 

6,400 00 J 



Amount loaned. 



y $100,000 oo 



V 100,000 00 



y 100,000 oo 



100,000 00 



y 100,000 00 



64 



LIFE INSURANCE COMPANIES [Dec. 31, 



Union Pacific sinking-fund bonds 

Jersey Central bonds 

Dayton and Michigan bonds . 

300 shares Delaware and Hudson 

100 " Union Pacific 

Erie second mortgage bonds . 

100 shares Wabash preferred 

600 " Union Pacific 

200 " C. C. C. and Indianapolis 

600 " Western Union . 

100 " Houston and Texas 

Metropol. Elev. R.R. first mort. bonds 

N. Y. Elevated R.R. first mort. bonds 

Ohio and Mississippi So. Division 

Harlem ...... 

Lehigh and Wilkesbarre 

227 shares New York Elevated Railroad 

300 " Deleware and Hudson . 

Erie second mortgage bonds 

Lehigh and Wilkesbarre 

500 shares Union Pacific 

200 " Erie . 

100 " Jersey Central 

200 " Central Pacific 

200 " Western Union 

Erie second mortgage bonds 

300 shares Erie 

900 " Del., Lack., and Western 

400 " Union Pacific 

100 " Jersey Central 

100 " Lake Shore . 

Erie second mortgage bonds 

Erie 5 per cent bonds . 

200 shares St. Paul 

400 " Lake Shore . 

Louisville and Nashville bonds 

Pacific of Missouri second mort. bonds 

200 shares North- West preferred . 

United States bonds 

100 shares Metropolitan Elevated R.R. 

400 u Jersey Central Railroad 

200 " Northern Pacific preferred 

100 " Union Pacific 

100 " St. Paul preferred 

100 " Louisville and Nashville 

100 " Del., Lack., and Western 

100 " Hannibal and St. Joseph 

100 " Chicago, Burl., and Quincy 

Rome, Watertown, and Ogdensburg 



Market-value. 

$6,125 00 ^j 
320 00 \ 
020 00 J 
675 00] 
250 00 y 
315 00 J 
662 50] 
500 00 j- 
200 00 j 
675 00' 
300 00 
680 00 



27 
11 
21 

8 
67 
19 
48 

7 
29 

6 

18 
14 

1 
28 
27 

3 

2 
56 
10 

8 
18 
16 
15 
15 
49 
45 

8 
13 

1 
131 
22 
53 
39 
23 
28 

3 

10 
33 
13 
11 
12 

8 

5 

4 
17 



ooo oo y 

480 00 ! 
630 00 
056 25^ 
148 00] 
675 00 | 
045 00 
112 50 j 
250 00 
125 00 
462 50 
550 00 
225 00 
225 00 J 
187 50 
275 00 
000 00 
462 50 
450 00 
015 00 J 
625 00 
900 00 
800 00 
140 00 
200 00 
200 00 
371 25 
700 001 
850 00 
300 00 
250 00 
400 00 j 
900 00 . 
475 00 
825 00 
975 00 
808 75 J 



l\ 



Y 



Amount loaned. 

$100,000 00 



50,000 00 
75,000 00 

100,000 00 



Y 50,000 00 



y 100,000 oo 



100,000 00 

100,000 00 
120,000 00 



25,000 00 



1880.] 



OF OTHER STATES. 



65 



Missouri, Kansas, and Texas 
Jersey Central .... 
100 shares Delaware and Hudson . 
200 " Union Pacific 
31 " New York Elevated Railroad 
Long Dock bond .... 
500 shares N. Y. Central and H. R. R.R 



900 


u 


Erie . 


400 


a 


North- West . 


100 


(1 


Union Pacific 


500 


it 


North- West . 


400 


(( 


North- West preferred . 


100 


(1 


Erie . 



Market-value. 

,102 50) 

1,160 00 f 

9,225 00 1 

22,500 00 I 

3,844 00 f 

1,177 50J 

77,187 50) 

45,562 50 } 

51,100 00] 

11,250 00 ) 

63,875 00 

56,400 00 ) 

5,062 50 > 



Amount loaned . 

$100,000 00 
30,000 00 

100,000 00 

50,000 00 
50,000 00 
50,000 00 



$3,252,262 75 $2,377,180 14 



Schedule B. 

Stocks and Bonds owned by the Company. 



United States bonds 
Virginia state bonds 
Westchester county (N.Y.) bonds 
New York city bonds 
New York county bonds 
Brooklyn public park bonds 
50 shares Bank of Commerce 



Cost value. 

$624,722 60 

4,500 00 

27,138 56 

325,755 66 

121,406 90 

100,500 00 

4,460 00 



Market-value. 

$664,125 00 

7,459 00 

26,180 00 

341,124 00 

132,380 00 

138,000 00 

7,350 00 



$1,208,483 72 $1,316,618 00 



METROPOLITAN LIFE INSURANCE COMPANY OF NEW 

YORK. 

[Incorporated January, 1866. Commenced business June, 1867.] 
Paid-up Capital, $100,000. 
Joseph F. Knapp, President. John R. Hegeman, Vice-Pres. and Sec'y. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 
received as discount on claims paid in advance 
for rents of company's property 



Total income 
Net or ledger assets Dec. 31, 1879 

Total .... 



$568,204 45 

87,418 16 

3,741 32 

31,191 42 

$690,555 35 
1,786,109 00 

$2,476,664 35 



66 



LIFE INSURANCE COMPANIES [Dec. 31, 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash dividends paid policy-holders, applied in payment 

of premiums ....... 



Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiners' fees 
for salaries of officers and office employes 
for taxes and fees ..... 

for rent 

for commuting commissions 

for advertising and incidentals 

for expenses in industrial branch 

for depreciation 

Total disbursements 



Balance 



$194,532 GO 

6,272 93 

60,592 40 

23,970 60 

$285,368 53 

50,933 69 

50,562 09 

491 88 

$387,356 19 

7,000 00 

42,035 16 

48,721 12 

16,890 62 

29,821 80 

5,609 19 

13,823 89 

93,841 71 

28,541 84 

77,318 74 

7,540 89 

$758,501 15 

$1,718,163 20 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office . 
deposited in bank . 
Furniture, fixtures, etc. . 
Commuted commissions . 

Ledger assets (as per balance) 



$338,626 92 

550,200 00 

50,000 00 

242,187 26 

474,000 00 

2,562 23 

45,732 42 

7,352 70 

7,501 67 

$1,718,163 20 



Other Assets. 

Interest due and accrued .... 
Rents due and accrued .... 
Market-value of real estate over cost 

of stocks and bonds over cost 



12,455 14 

3,066 67 

31,123 08 

85,537 50 



1880.] 



OF OTHER STATES. 



67 



Uncollected premiums on policies in force, $60,959,52 
Deferred premiums on policies in force . 79,453 69 

Total $140,413 21 

Deduct loading (20 per cent) . . . 28,082 64 
Net am't uncollected and deferred prems. 

Total assets per company's books .... 

Items not admitted. 
Office furniture, etc $7,352 70 



Commuted commissions . 
Total 

Total admitted assets 



7,501 67 



Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Losses and endowments unpaid 
Deferred and unpaid prems. and liens in excess of reserve 
Premiums paid in advance 
Special reserve .... 



Liabilities as to policy-holders 
Surplus as regards policy-holders 



Gross liabilities 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 
received during 1880 

Total 

Used in payment of losses and claims 

of surrendered policies 
and voided by lapse 
Total 



$293,095 31 
29,897 57 

$30,243 53 

50,562 09 



Balance note assets Dec. 31, 1880 

Exhibit of Policies. 



$112,330 57 
$1,962,676 16 



14,854 37 

,947,821 79 



$1,527,265 00 

61,158 CO 

12,326 00 

3,423 33 

60,000 00 

$1,664,172 33 
283,649 46 

$1,947,821 79 



$322,992 88 



$80,805 62 
$242,187 26 



Whole-life policies 
Endowment policies 
All other policies 



Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

6,890 $10,776,908 00 



New Po 



Whole-life policies . 
Endowment policies 
All other policies 

Total number and amount 



icies issued in 1880. 



733 


394,130 00 


57 


55,880 00 


347 


378,872 00 


18 


15,958 00 


5 


4,583 00 



8,050 $11,626,331 00 



68 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies ceased to be in Force during the Year. 

M umber. Amonnt. 

Terminated by death 

by maturity . 

by lapse 
Not taken 

Total terminated 



Policies in Force Dec. 31, 1880 



Whole-life policies . 
Endowment policies 
All other policies 

Totals 

Industrial policies in force 



84 


84,563 00 


946 


1,296,741 00 


16 


14,677 00 


1,155 


$1,562,852 00 


1880. 




Number. 


Amount. 


6,311 


$9,794,717 00 


544 


225,799 00 


40 


42,963 00 



6,895 $10,063,479 00 
110,193 $9,103,870 00 



Brooklyn city bonds 

Kings county bonds . 

Brooklyn park bonds 

Brooklyn, Bush wick Avenue bonds 



Schedule A. 

Securities held as Collateral. 

Market-value. 

$11,000 oo^i 

16,800 00 | 

26,600 00 [ 

1,060 00 j 



Amount loaned. 



y $50,000 oo 



$55,460 00 



Schedule B. 



Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds .... $182,000 00 



Brooklyn city bonds 
Rochester city bonds 
Lockport city bonds 
Peekskill city bonds 
Jersey city (N.J.) bonds 



92,000 00 
90,000 00 
40,000 00 
25,000 00 
45,000 00 



Market-value. 

$209,240 00 

112,217 50 

110,280 00 

46,000 00 

32,750 00 

49,050 00 



$474,000 00 $559,537 50 



MUTUAL LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated April, 1842. Commenced business Feb. 1, 1S43.] 

F. S. Winston, President. Isaac F. Lloyd, Secretary. 

Income. 
Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 

for rents of company's property 



Total income 
Net or ledger assets Dec. 31, 1879 

Total .... 



$12,275,589 16 

4,447,641 16 

204,059 18 

213,405 11 



$17,140,694 61 
85,765,515 6S 

$102,906,210 29 



1880.] 



OF OTHER STATES. 



69 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

for surrendered policies .... 

dividends paid policy-holders, applied in payment of 
premiums 

Total paid policy-holders ..... 

Cash paid for commissions to agents 

for salaries and expenses of law department 
for medical examiner's fees and expenses 
for salaries of officers and office employes 
for taxes and fees ..... 

for rent ....... 

for contingent and guarantee account 
for advertising ..... 

for incidentals 

Total disbursements ...... 

Balance 



$4,324,447 93 
1,613,741 04 

$5,938,188 97 

23,993 88 

3,898,777 61 

3,299,734 00 



$13,160,694 46 

677,255 70 

97,947 12 

77,833 61 

251,897 38 

247,832 69 

6,000 00 

949,512 43 

52,946 92 

256,048 68 



$15,777,968 99 



Invested in the following : — 

Assets as per Ledger Accounts. 
Present value of real estate . 
Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Par value of stocks and bonds owned (schedule B) . 
Cash in company's office and deposited in bank 
Agents' ledger balances 

Ledger assets (as per balance) .... 

Other Assets. 

Interest due and accrued 

Market-value of stocks and bonds over par 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force . 



$87,128,241 30 



$7,174,134 10 
53,524,916 64 

7,720,931 94 
16,740,700 00 

1,951,580 91 
15,977 71 



$87,128,241 30 

1,381,271 87 
2,275,502 00 



Total . ..... 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems. 

Total assets per company's books 



$116,330 03 
834,440 82 

$950,770 85 
190,154 17 



760,616 68 
,545,631 85 



Items not admitted. 



Agents' balances 



Total admitted assets 



15,977 71 
. $91,529,654 14 



70 LIFE INSURANCE COMPANIES [Dec. 31, 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) , . . . $84,212,331 00 
Death losses due and unpaid . . . $87,987 00 
and matured endowments in 

process of adjustment . 634,009 04 
Claims resisted by the company . . 219,678 00 

Total policy claims .... 941,67404 

Premiums paid in advance 26,451 52 



Liabilities as to policy-holders $85,180,456 56 

Surplus as regards Tontine policy-holders, $183,634 81 
as regards other policy-holders . 6,165,562 77 
Gross surplus as regards policy-holders, 6,349,197 58 

Gross liabilities $91,529,654 14 

Exhibit of Policies. 
Policies and Additions in Force Dec. SI, 1879. 

dumber. Amount. 

Whole-life policies 80,456 $237,570,112 00 

Endowment policies 14,861 35,709,198 00 

All other policies 106 119,075 00 

Reversionary additions - 25,362,482 00 

New Policies issued in 1880. 

Whole-life policies 7,144 19,755,237 00 

Endowment policies 2,044 5,258,365 00 

All other policies 2 2,500 00 

Old Policies revived during the Year. 

Whole-life policies 

Endowment policies 

All other policies 



792 


2,467,530 00 


123 


344,835 00 


1 


1,000 00 


r ear. 


5,871,292 00 



Old Policies increased during the Year, 
Additions by dividends . 

Total number and amount . . . 105,529 $332,461,626 00 
Policies ceased to be in Force during the Year. 

Xumber. Amount 

Terminated by death 1,174 $4,510,818 00 

by maturity . 



by surrender and lapse 
by decrease . 
Not taken .... 

Total terminated 



563 1,616,741 00 

4,784 17,362,183 00 

143,280 00 

1,030 2,826,440 00 



7,551 $26,459,462 00 



1880.] 



OF OTHER STATES. 



71 



Policies in Force Dec. 31, 1880. 

Number. 



Amount. 



Whole-life policies . 
Endowment policies 
All other policies 
Reversionary additions 

Totals 



82,6771243,581,238 00 

15,204 36,876,007 00 

97 109,775 00 

- 25,435,144 00 

97,978^306,002,164 00 



Schedule A. 

Securities held as Collateral. 

Market-value 

Chicago and North- Western Railroad 

Delaware, Lackawanna, and Western 

New York Central and Hudson Riv. R.R 

Lowell and Nashua .... 

Chicago, Rock Island, and Pacific . 

Chicago, Burlington, and Quincy 

Chicago, Milwaukee, and St. Paul . 

Lake Shore and Michigan Southern 

Oregon Railroad and Navigation Co. 

Union Pacific ..... 

Atchison, Topeka, and Santa Fe 

Metropolitan Elevated 

Western Union Telegraph Company 

Illinois Central .... 

Chicago and Alton . . 

Michigan Central .... 

Albany and Susquehanna 

Morris and Essex .... 

United Railroads of New Jersey 

Cleveland and Pittsburg . 

New York, L. E., and West. R.R. bonds 

United States bonds 

New York, Lake Erie, and Western 

Louisville and Nashville . 

Chicago, St Paul, Minnesota, and Ohio 

Central Pacific land grant 

Ohio Central ..... 

Chicago, Milwaukee, and St. Paul . 

Kansas Pacific ..... 

Pacific of Missouri .... 

Missouri, Kansas, and Texas . 

Winona and St. Peter 

St. Louis, Jacksonville, and Chicago 

Metropolitan Elevated 

Chicago and North-Western 

Marietta and Cincinnati . 



Amount loaned. 



$1,612,800 00 1 

239,800 00 

619,080 00 

578,500 00 

465,650 00 

511,020 00 

218,600 00 

273,375 00 

202,500 00 

134,400 00 

128,700 00 

74,200 00 

48,600 00 

79,375 00 

70,525 00 

37,500 00 

12,000 00 

6,000 00 

16,110 00 

1,250 00 

1,705,440 00 

883,000 00 

484,740 00 

219,300 00 

135,890 00 

123,050 00 

113,400 00 

317,230 00 

98,800 00 

98,260 00 

91,840 00 

69,550 00 

53,550 00 

47,700 00 

58,700 00 

30,250 00 J 



r 



72 



LIFE INSURANCE COMPANIES [Dec. 31, 



Broadway and Seventh Avenue 

South Pacific of Missouri 

Lehigh and Wilkesbarre . 

Great Western .... 

Toledo and Wabash 

Oregon Railroad and Navigation Co. 

Central of New Jersey 

United States bonds 

Michigan Central .... 

Dry Dock, East Broadway, and Battery 

Union Pacific ..... 

Central Iowa 



Market-value. Amount loaned. 

27,500 001 
20,600 00 
18,000 00 
12,960 00 
25,360 00 
11,990 00 

9,040 00 1 17 720 831 94 

4,256 00 r 

3,510 00 

4,600 00 

3,500 00 

2,875 00 



$10,004,876 00 



Schedule B. 
Stocks and Bonds owned by the Company, 

Par value. 

United States bonds .... $5,458,000 00 

New York city and county bonds . . 2,953,200 00 

Brooklyn city bonds .... 1,253,00000 

Newark city bonds 675,000 00 

Boston city bonds 1,000,000 00 

Missouri state bonds .... 629,000 00 

San Francisco city bonds . . . 590,000 00 

Providence city bonds .... 500,000 00 

Texas 500,000 00 

Massachusetts state bonds . . . 150,000 00 

Cherry Valley (N.Y.) bonds . . . 41,000 00 

Yonkers (N.Y.) bonds .... 118,00000 

Buffalo (N.Y.) bonds .... 140,500 00 

Elraira (N.Y.) bonds .... 50,000 00 

Union county (N.J.) bonds . . . 93,00<> 00 

North Plainfield (N.J.) bonds . . 16,500 00 

Middlesex county (N.J.) bonds . . 5,000 00 

Elizabeth (N.Y.) bonds .... 12,000 00 

Hudson county (N.J.) bonds . . . 118,000 00 

Essex county (N J ) bonds . . . 8,000 00 

New Brunswick (X.J.) bonds . . . 15,500 00 

Jersey city (N.J.) bonds .... 29,000 00 

Milwaukee (Wis.) bonds . . . . 175,000 00 

Michigan Central Railroad bonds . . 150,000 00 

Lake Erie and Western Railroad bonds . 125,000 00 

Cleveland, Col., Cinn., and Ind. bonds . 212,000 00 

Chicago, Milwaukee, and St. Paul bonds . 422,000 00 

Delaware and Hudson bonds . . . 339,000 00 

Lafayette, Bloom., and Muncie bonds . 125,000 00 

Syracuse, Bing., and New York bonds . 133,000 00 

South Pacific and Missouri bonds . . 94,000 00 



Market-value. 

$5,818,470 00 

3,533,726 00 

1,622,100 00 

767,935 00 

1,160,000 00 

704,800 00 

607,700 00 

550,000 00 

575,000 00 

173,495 00 

41,000 00 

151,140 00 

163,980 00 

56,415 00 

96,413 00 

16,500 00 

5,550 00 

4,800 00 

141,980 00 

9,248 00 

• 15,500 00 

31,900 00 

209,400 00 

169,500 00 

137,500 00 

255,120 00 

500,930 00 

415,000 00 

136,250 00 

159,600 00 

98,230 00 



1880.] 



OF OTHER STATES. 



73 



Indiana, Dec, and Springfield bonds 
Cincinnati and Springfield bonds 
Albany and Susquehanna bonds 
Cincinnati, Ham., and Dayton bonds 



Par value. 

$200,000 00 
133,000 00 
100,000 00 
178,000 00 



Market-value. 

$210,000 00 
159,040 00 
125,000 00 
192,980 00 



$16,740,700 00 $19,016,202 00 



MUTUAL BENEFIT LIFE INSURANCE COMPANY OF 

NEWARK, N.J. 

[Incorporated Jan. 31, 1845. Commenced business April, 1845.] 

Lewis C. Grover, President. Edward L. Dobbins, Secretary. 

Income. 

Total premium income . $3,866,379 07 

Cash received for interest on stocks, bonds, and loans . 1,915,244 43 

for interest on other debts due the company, 13,125 00 

as discount on claims paid in advance . 4,046 14 

for rents of company's property . . 2,687 50 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Cash paid to annuitants ...... 

for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse .... 

Cash surrender values, including reconverted additions ap 
plied in payment of premiums 
dividends paid policy-holders, $181,277.73; applied 
in payment of premiums, $1,151,220.26 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries- of officers and office employes 
for taxes and fees ..... 
10 



$5,801,482 14 
32,784,307 70 

$38,585,789 84 



&2,051,277 81 

136,584 92 

483,739 78 

59,976 88 

52,731,579 39 

6,134 37 

194,169 09 

149,426 76 

301,488 26 

1,335,497 99 
69,091 41 

$4,787,387 27 
337,173 17 

27.662 46 

31.663 99 
76,087 50 
73,329 57 



74 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash paid for incidentals .... 

for premiums on bonds purchased 
for profit and loss 

Total disbursements .... 

Balance 



Invested in the following: — 

Assets as per Ledger Accoun 
Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 
Premium notes or loans on policies in force 
Par value of stocks and bonds owned (schedule A) 
Cash in company's office . 
deposited in bank . 

Accrued rents, etc 

Agents' ledger balances . 
Office furniture and fixtures 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



TS. 



$107,077 20 

153,654 00 

37,956 86 

$5,631,992 02 

$32,953,797 82 



$2,705,079 01 

7,729,488 96 

4,112,235 59 

16,862,970 88 

12,481 41 

1,469,291 21 

1,662 50 

43,500 07 

17,088 19 



$32,953,797 82 
46,414 01 



$32,907,383 81 



Other Assets. 

Interest due and accrued 654,097 55 

Market-value of stocks and bonds over par . . . 2,031,196 55 
Uncollected premiums on policies in force, $85,982 78 
Deferred premiums on policies in force . 157,425 06 

Total $243,407 84 

Deduct loading (20 per cent) . . . 48,681 56 

Net am't uncollected and deferred prems. 194,726 28 

Total assets per company's books .... $35,787,404 19 



Office furniture, etc. 
Agents' balances 
Total 



Items not admitted. 

$17,088 19 

43,500 07 



Total admitted assets 



60,588 26 
. $35,726,815 93 



Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . . . $31,197,191 00 

Death losses and matured endowments in 

process of adjustment .... $502,640 00 

Claims resisted by the company . . 25,000 00 

Total policy claims .... 527,640 00 



1880.] 



OF OTHER STATES. 



75 



Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 

• Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities 



$180,443 95 
6,158 90 



$31,911,433 85 
3,815,382 08 



$35,726,815 93 



Premium Note Account. 
Premium notes on hand Dec. 31, 1879 . $4,398,843 89 
received during 1880 

Total 

Used in payment of losses and claims 

of surrendered policies, 
and voided by lapse . 
of dividends to policy- 
holders 
Redeemed by maker in cash 

Total 

Balance note assets Dec. 31, 1880 



156,655 89 

$196,561 80 

149,426 76 

69,091 41 
28,184 22 



$4,555,499 78 



443,264 19 
$4,112,235 59 



Whole-life policies 
Endowment policies 
All other policies 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

39,038 $110,611,529 00 

3,143 6,807,017 00 

105 



New Policies issued in 1880. 



Whole-life policies , 
Endowment policies 
All other policies 



3,656 
848 
580 



Old Policies revived during the Year. 



Whole-life policies . 
Endowment policies 



21 
1 



301,700 00 



9,089,693 00 
2,095,997 00 
1,724,100 00 



83,170 00 
7,733 00 



Old Policies increased during the Year. 

Whole-life policies - 

Endowment policies 3 

All other policies 1 



Total number and amount 



4,195 00 
10,503 00 
10,000 00 

47,396 $130,745,637 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 620 $2,089,925 00 

by maturity 150 518,517 00 

by expiry 3 3,000 00 

by surrender .... 424 989,383 00 



76 



LIFE INSURANCE COMPANIES [Dec. 31, 



Terminated by lapse 

by change and decrease 

by transfer . 
Not taken 



Total terminated 



Number. Amount. 

523 $1,251,700 00 

891 3,299,383 00 

4 25,500 00 

431 1,101,250 00 

3,046 $9,278,658 00 



Policies in Force Dec. 31, 1880. 



Whole-life policies , 
Endowment policies 
All other policies 



Number. Amount. 

40,151 $111,841,652 00 

3,573 7,803,027 00 

626 1,822,300 00 



Totals 



44,350 $121,466,979 00 



Schedule A. 
Stocks and Bonds owned by the Company. 

Par value. 

$7,562,500 00 



United States bonds 

Massachusetts state bonds 

Essex county (N.J.) bonds 

Union county (N.J.) bonds 

Brooklyn city (N.Y.) bonds 

Auburn city (N.Y.) bonds 

Utica city (N.Y.) bonds . 

Erie city (Penn.) bonds . 

Cleveland city (O.) bonds 

Toledo city (O.) bonds 

Sandusky city (O.) bonds 

Springfield city (III.) bouds. 

South Bend city (Tnd.) bonds 

Lafayette city (hid.) bonds 

Newark city (N.J.) bonds 

Orange city (N J.) bonds 

East Orange city (N.J.) bonds 

West Orange city (N.J.) bonds 

South Orange city (N. J.) bonds 

jMilburn city (N J.) bonds 

Jersey city (N.J.) bonds . 

Dover city (N.J.) bonds . 

New Brunswick city (N.J.) bonds 

Elizabeth city (N J.) bonds 

Rahway city (N.J.) bonds 

Elizabeth city temporary tax loan 

Newark and N. Y. R.R. 1st mort. bonds, 

Pemberton and N. Y. R.R. 1st mort. b'ds, 



800 00 

1,938,500 00 

114,000 00 

65,000 00 

150,000 00 

145,000 00 

152,000 00 

521,000 00 

173,000 00 

100,000 00 

89,000 00 

61,500 00 

160,000 00 

3,190,000 00 

80,000 00 

78,670 88 

135,500 00 

2,000 00 

4,000 00 

50,000 00 

9,000 00 

14,000 00 

955,000 00 

112,000 00 

52,500,00 

573,000 00 

375,000 00 



Market-value. 

$8,886,178 13 

800 00 

2,207,670 00 

115,050 00 

71,575 00 

165,750 00 

156,250 00 

180,880 00 

598,260 00 

223,170 00 

116,000 00 

89,000 00 

67,650 00 

208,000 00 

3,687,300 00 

93,900 00 

80,619 30 

166,975 00 

2,100 00 

4,080 00 

59,500 00 

9,630 00 

16,800 00 

477,500 00 

56,000 00 

52,500 00 

636,030 00 

465,000 00 



$16,862,970 88 $18,894,167 43 



1880.] 



OF OTHER STATES. 



77 



NATIONAL LIFE INSURANCE COMPANY OF MONTPELIER, 

VERMONT. 

[Incorporated Nov. 13, 1848. Commenced business Feb. 1, 1850.] 

Charles Dewey, President. George W. Reed, Secretary. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 

Total income . 

Net or ledger assets Dec. 31, 1879 .... 



Total 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions . 

Gross amount paid for losses and endowments . 

Cash paid to annuitants 

for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash dividends paid policy-holders .... 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for rerit ....... 

for advertising ...... 

for incidentals 

Total disbursements . . ' . 

Balance ........ 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 



$264,184 39 

99,241 33 

8,086 25 

402 25 

9,489 51 

$381,403 73 

2,157,419 68 

$2,538,823 41 



$106,217 60 

74 21 

4,428 00 

$110,719 81 

1,949 59 

23,078 83 

2,058 48 

51,070 11 

1,051 09 

$189,9-27 91 

18,888 61 

6,043 93 

1,568 00 

10,449 89 

8,249 42 

2,408 33 

784 16 

4,729 26 

$243,049 51 

$2,295,773 90 



$270,664 19 
590,545 79 
130,300 00 



78 LIFE INSURANCE COMPANIES [Dec. 31, 

Loans on company's policies assigned as collateral . . $21,498 48 

Premium notes or loans on policies in force . . . 21,634 69 

Par value of stocks and bonds owned (schedule B) . . 1,181,300 00 

Cash in company's office ....... 311 40 

deposited in bank 39,671 92 

in transit, since received 25,556 83 

Agents' ledger balances 14,290 60 



Ledger assets (as per balance) $2,295,773 90 

Other Assets. 

Interest due and accrued 59,314 20 

Market-value of stocks and bonds, over par . . . 53,475 00 

Uncollected premiums on policies in force . $4,423 91 
Deferred premiums on policies in force . . 18,102 44 



Total $22,526 35 

Deduct loading (20 per cent) .... 4,505 27 

Net am't uncollected and deferred prems. 18,021 08 



Total assets per company's books .... $2,426,584 18 

Items not admitted. 
Agents' balances 14,290 60 

Total admitted assets $2,412,293 58 

Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) . . . $1,562,896 00 
Death losses and matured endowments in 

process of adjustment .... $20,000 00 
Claims resisted by the company . . 10,000 00 

' Total policy claims .... 30,000 00 

Unpaid dividends of surplus due policy-holders . . 125,257 81 

Premiums paid in advance .... 



50,000 00 

$1,768,153 81 
644,139 77 

$2,412,293 58 



Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities 

Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $22,958 00 
received during 1880 . . 2,472 23 

Total $25,430 23 

Used in payment of losses and claims . . $74 21 

of surrendered policies, and 

voided by lapse . . . 2,058 48 

of dividends to policy-holders, 1,051 09 

Redeemed by maker in cash . . . . 611 76 

Total 3,795 54 



Balance note assets Dec. 31, 1880 .... $21,634 69 



1880.] 



OF OTHER STATES. 



79 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Whole-life policies 

Endowment policies ...... 

All other policies 

Reversionary additions ..... 

New Policies issued in 1880. 

Whole-life policies .... 
Endowment policies .... 
All other policies .... 
Additions by dividends . 



Total number and amount 



Number. 


Amount. 


3,750 


$7,691,300 00 


262 


478,300 00 


20 


68,280 00 


— 


68,172 00 


208 


568,550 00 


309 


447,500 00 


1 


1,000 00 


- 


3,298 00 



4,550 $9,326,400 00 



Policies ceased to be in Force during the Year. 

K umber. 

Terminated by death 47 

by maturity . 

by expiry 

by surrender . 

by lapse 

by change and decrease 
Not taken .... 



Total terminated 



6 
5 

97 

52 

1 

47 



Amount. 

$106,292 00 

4,428 00 

16,000 00 

193,032 00 

108,700 00 

77,305 00 

103,200 00 



255 $608,957 00 



Policies in Force Dec 81, 1880. 



Whole-life policies . 
Endowment policies . 
All other policies 
Reversionary additions 

Totals 



Number. Amount. 

3,743 $7,707,720 00 

537 887,572 00 

15 52,280 00 

69,871 00 



4,295 $8,717,443 00 



Vermont National Bank, St. Albans 
St. Albans Trust Company 
St. Albans Trust Company 
Vermont National Bank . 
Vermont National Bank . 
Farmers' National Bank . 
National Bank, Rutland . 
Vermont Marble Co. mortgage bond 
First National Bank, Montpelier 
Howard National Bank, Burlington 



Schedule A. 

Securities held as Collateral. 

Market-value. 

$19,500 00 
27,089 00 



6,870 00 

10,400 00 
16,500 00 
19,500 00 
80,000 00 
6,400 00 
13,200 00 



Amount loaned. 

$14,C00 00 
24,300 00 

5,000 00 

8,000 00 

15,000 00 

15,000 00 

40,000 00 

2,000 00 

7,000 00 



$199,459 00 $130,300 00 



80 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule 
Stocks and Bonds owned 

United States bonds 

Maine state bonds . 

New Hampshire state bonds 

Missouri state bonds 

Boston city bonds 

Lawrence city bonds 

Worcester city bonds 

Fitchburg city bonds 

Chelsea city bonds . 

Beverly city bonds . 

Somerville city bonds 

Buffalo city bonds . 

Burlington city bonds 

Indianapolis city bonds 

Springfield city bonds 

Meriden city bonds . 

Minneapolis city bonds 

Cleveland city bonds 

Piqua city bonds 

St. Louis city bonds 

St. Louis county bonds 

Peoria county bonds 

Cook county bonds . 

Scituate (Mass.) town bonds 

Montpelier (Vt.) town bonds 

St. Albans (Vt.) town bonds 

High gate (Vt.) town bonds 

Essex (Vt.) town bonds . 

Jericho (Vt.) town bonds 

Wolcott (Vt.) town bonds 

Hyde Park (Vt.) town bonds 

Underhill (Vt.) town bonds 

St. Johnsbury (Vt.) town bonds 

Brandon (Vt.) town bonds 

Jamaica (Vt.) town bonds 

Fairfax (Vt.) town bonds 

First National Bank, Montpelier 

Montpelier National Bank, Montpelier 



B. 

by the Company. 
Par value. 

$300,000 00 

2,000 00 

15,000 00 

11,000 00 

10,000 00 

20,000 00 

20,000 00 

6*0,000 00 

77,000 00 

25,000 00 

30,000 00 

10,000 00 

60,000 00 

25,000 00 

18,000 00 

43,000 00 

3,500 00 

6,000 00 

10,000 00 

13,000 00 

32,000 00 

26,000 00 

5,000 00 

6,500 00 

30,000 00 

46,000 00 

50,000 00 

20,000 00 

23,000 00 

27,000 00 

49,000 00 

17,000 00 

31,000 00 

21,500 00 

4,000 00 

5,500 00 

26,000 00 

3,300 00 



Market-value. 

$335,895 00 

2,000 00 

15,000 00 

11,000 00 

10,000 00 

20,000 00 

20,000 00 

60,000 00 

77,000 00 

25,000 00 

30,000 00 

10,000 00 

60,000 00 

25,000 00 

18,000 00 

43,000 00 

3,500 00 

6,000 00 

10,000 00 

13,000 00 

32,000 00 

26,000 00 

5,000 00 

6,500 00 

30,000 00 

46,000 00 

50,000 00 

20,000 00 

23,000 00 

27,000 00 

49,000 00 

17,000 00 

31,000 00 

21,500 00 

4,000 00 

5,500 00 

41,600 00 

5,280 00 



$1,181,300 00 $1,234,775 00 



1880.] 



OF OTHER STATES. 



8L 



NEW YORK LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporate^ 1841. Commenced business 1845.] 

Morris Franklin, President. Wm. H. Beers, Vice-Pres. and Actuary. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
for rents of company's property . 
for profits on real estate sold 

Total income ....... 

Net or ledger assets Dec. 31, 1879 . , , . 



Total 

Disbursements. 
Cash paid for losses and additions .... 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid to annuitants ...... 

for surrendered policies .... 

Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse .... 

Cash dividends paid policy-holders, applied in payment 
of premiums ........ 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 
for taxes and fees ..... 

for commuting commissions , 

for advertising ...... 

for incidentals ...... 

Total disbursements ...... 

Balance ........ 

Invested in the following: — 

Assets as per Ledger Accounts. 
Cost value of real estate ...... 

Loans on mortgage of real estate (first liens) . 
11 



$6,545,460 96 

1,860,761 10 

70,001 87 

145,402 98 

202,544 63 

$8,824,171 54 

37,287,828 32 



$46,111,999 86 

$1,734,758 44 

15,924 20 

562,259 88 

2,319 97 

$2,315,262 49 
18,961 27 

$2,296,301 22 
272,727 96 
355,730 44 

21,632 87 

1,545,506 70 
7,992 05 

$4,499,891 24 

468,269 92 

47,000 00 

52,227 01 

183,566 15 

124,265 32 

33,506 60 

55,395 04 

253,750 22 



$5,717,871 50 
$40,394,128 36 



$5,029,324 59 
16,464,922 23 



82 



LIFE INSURANCE COMPANIES [Dec. 31, 



Loans on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 

deposited in bank 

Agents' ledger balances 

Ledger assets (as per balance) . 



Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 



$2,491,000 00 

597,451 12 

14,925,174 09 

10,195 23 

841,832 87 

34,228 23 



$40,394,128 36 



348,009 37 

8,558 00 

1,839,813 96 



Total 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems 

Total assets per company's books 



$204,852 99 
387,972 13 

$592,825 12 
118,565 02 



Items not admitted. 



Agents' balances 

Total admitted assets 



474,260 10 
. 843,065,369 79 



34,228 23 



o,031,141 56 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks 



Net re-insurance reserve . 
Matured endowments due and unpaid 
Death losses and matured endowments in 

process of adjustment . 
Claims resisted by the company 
Due and unpaid on annuity claims 

Total policy claims . 
Premiums paid in advance 

Liabilities as to policy-holders 
Surplus as regards Tontine policy-holders 
as regards other policy-holders 
Gross surplus as regards policy-holders 

• 

Gross liabilities 



15,939,556 00 
275,363 00 



. 835,664,193 00 



$109,643 96 

459,457 38 

74,500 00 

5,294 25 



648,895 59 
14,084 62 



. $36,327,173 21 
$1,752,165 82 
4,951,802 53 
6,703,968 35 



. $43,031,141 50 



Premium Note Account. 

Premium notes on hand Dec. 31, 1S79 . $621,403 02 

received during 1880 . 55,256 86 

Total ...... 



$676,659 88 



1880.] 



OF OTHER STATES. 



83 



Used in payment of losses and claims . $18,244 17 
of surrendered policies, 

and voided by lapse . 21,632 87 
of dividends to policy- 
holders . . . 7,992 05 
Redeemed by maker in cash . . . 31,339 67 
Total 

Balance note assets Dec. 31, 1880 .... 



$79,208 76 
$597,451 12 



Whole-life policies 



Exhibit of Policies. 
Policies and Additions in Force Dec. 81 , 1879. 

Number. Amount. 

35,952 $102,624,621 00 



Endowment policies ...... 8,827 


22,223,794 00 


All other policies 926 


58,090 00 


Reversionary additions ..... - 


2,511,257 00 


New Policies issued in 1880. 




Whole-life policies 4,218 


13,476,137 00 


Endowment policies ...... 2,041 


6,722,077 00 


All other policies ...... 653 


10,000 00 


Old Policies revived during the Year. 




Whole-life policies 30 


80,135 00 


Endowment policies 4 


58,500 00 


Old Policies increased during the Year. 




Whole-life policies ...... - 


1,400 00 


Endowment policies - 


28,514 00 


Additions by dividends - 


1,853,216 00 


Total number and amount . . . 52,651 $149,647,741 00 


Policies ceased to be in Force during the Year 




Number. 


Amount. 


Terminated by death ..... 575 


$1,830,873 00 


by maturity ..... 341 


645,867 00 


by expiry ..... 45 


27,090 00 


by surrender ..... 785 


4,096,081 00 


by lapse 1,404 


3,885,915 00 


by change and decrease ... - 


177,711 00 


Not taken 953 


3,257,288 00. 


Total terminated 4,103 


$13,920,825 00 



Whole-life policies 



Policies in Force Dec. 81, 1880. 

Number. Amount. 

37,273 $107,171,405 00 



Endowment policies . 
All other policies 
Reversionary additions 

Totals 



9,755 
1,520 



25,879,222 00 

21,000 00 

2,655,289 00 



48,548 $135,726,916 00 



84 



LIFE INSURANCE COMPANIES [Dec. 31, 



Schedule A. 

Securities held as Collateral. 

Market-value. 

$64,680 00 
20,160 00 



420 shares N. Y. Central and H. R. R.R. . 

United States bonds . 

United States bonds . 

1,800 shares N. Y. Central and H. 11. R R. 



100 

1,000 

200 

800 

800 

715 

475 

400 

200 

100 

600 

600 

700 

2,500 

1,700 

100 

3,600 

500 

2,100 

600 

400 

800 



United States Trust Co. 
N. Y. Central and H. R. R.R 
Lake Shore and Mich. So. R.R. 
N. Y. Central and H. R. R.R. 
N. Y. Central and H. R. R.R. 
Fourth National Bank, N.Y. 
Central National Bank, N.Y. 
N. Y Central and H. R. R.R. 
Rensselaer and Saratoga R R. 
Albany and Susquehan. R.R. 
Lake Shore and Mich. So. R.R. 
N. Y. Central and H. R. R.R. 
Lake Shore and Mich. So. R.R. 
Lake Shore and Mich. So. R.R. 
N. Y. Central and H. R. R.R. 
Albany and Susquehan. R.R. 
N. Y. Central and H. R. R R. 
Lake Shore and Mich. So. R. R. 
N. Y. Central and H. R. R.R. 
N. Y. Central and H. R. R.R. 
Delaware and Hudson Canal, 
N. Y. Central and H. R. R.R. 



44,800 00 

277,200 00 

30,000 00 

154,000 00 

27,100 00 

123,200 00 

123,200 00 

85,800 00 

56,050 00 

61,600 00 

26,000 00 

12,000 00 

81,300 00 

92,400 00 

94,850 00 

338,750 00 

261,800 00 

12,000 00 

554,400 00 

67,750 00 

323,400 00 

92,400 00 

36,800 00 

123,200 00 



Amount loaned. 

$51,000 00 

40,000 00 
250,000 00 

150,000 00 

100,000 00 
100,000 00 

100,000 00 



150,000 00 

150,000 00 

250,000 00 
200,000 00 

500,000 00 
250,000 00 
100,000 00 

100,000 00 
$3,184,840 00 $2,491,000 00 



Schedule B 
Stocks and Bonds owned by 



United States bonds 
New York city and county bonds 
East Chester (N Y.) city bonds 
Brooklyn (N.Y.) city bonds 
Buffalo (N.Y.) city bonds 
Flushing (N.Y.) city bonds 
Yonkers (N.Y.) city bonds 
Rochester (N.Y.) city bonds 
Jersey city bonds 
Newark city bonds . 
Missouri state bonds 
Richmond (Va.) city bonds 
Tennessee state bonds 
Alabama state bonds 



the Company. 
Cost value. 

$2,213,884 17 

4,186,564 07 

60,113 05 

1,608,622 51 

135,284 84 

101,600 00 

181,335 11 

52,950 67 

597,470 00 

936,682 59 

103,740 00 

46,250 00 

6,000 00 

15,840 00 



Market-value. 

$2,424,460 83 

4,549,505 00 

61,635 85 

1,841,920 00 

149,340 00 

121,720 00 

211,420 00 

58,750 00 

597,470 00 

981,550 00 

115,000 00 

65,500 00 

9,200 00 

35,040 00 



1880.] 



OF OTHER STATES. 



85 



South Carolina state bonds 
Georgia state bonds .... 
New York Central and H. R. R.R. bonds 
New York and Harlem Railroad bonds 
Rensselaer and Saratoga Railroad bonds 
New York, Lake Erie, and Western R.R 
Albany and Susquehanna Railroad 
Delaware and Hudson Canal bonds 
Delaware and Hudson Canal stock 
Bank of America (N.Y.) stock 
Merchants' Bank stock 
Bank of the Republic stock 
American Exchange Bank stock 
Metropolitan Bank stock . 



Cost value. 

$7,624 37 

2,730 00 

1,018,872 81 

1,072,141 67 

9,519 92 

1,885,545 60 

230,735 23 

335,539 65 

81,845 00 

8,484 00 

11,112 58 

907 50 

10,025 00 

3,753 75 



Market-value. 

$7,624 37 

3,915 00 

1,325,000 00 

1,328,333 33 

12,495 00 

2,058,667 00 

258,825 00 

367,036 67 

138,000 00 

10,780 00 

12,342 00 

1,408 00 

12,500 00 

5,550 00 



$14,925,174 09 $16,764,988 05 



NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY 
OF MILWAUKEE, WIS. 

[Incorporated March, 1857. Commenced business Nov. 25, 1858.] 

H. L. Palmer, President. Willard Merrill, Secretary. 



Income. 
Total premium income . . . . 
Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 



as discount on claims paid in adv 
for rents of company's property 
for profit and loss account . 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



ance 



$1,876,925 16 

1,206,162 96 

51,536 41 

492 19 

7,868 68 

1,972 08 

$3,144,957 48 
17,354,873 21 

$20,499,830 69 



Disbursements. 

Cash paid for losses and additions $658,077 67 

Premium notes or loans used in payment of same . . 40,444 15 

Cash paid for matured endowments and additions . . 474,062 48 

Premium notes or loans used in payment of same . . 77,833 90 

Gross amount paid for losses and endowments . . $1,250,418 20 

Cash paid for surrendered policies 72,457 97 

Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 20,512 00 



86 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cash surrender values, including reconverted additions 
applied in payment of premiums 
dividends paid policy-holders, $240,936.43; applied 
in payment of premiums. $243,777. 21 . 
Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of *officers and office employes 
for taxes and fees ..... 

for rent 

for furniture and office fixtures 

for advertising 

for incidentals 

Total disbursements ...... 

Balance ........ 



$48,8(50 00 

484,713 64 
303,54S 29 

$2,180,510 10 

164,735 27 

72,062 86 

11,115 00 

110,230 44 

34,997 62 

8,220 24 

875 78 

10,483 36 

88,492 18 

$2,681,722 85 



$17,818,107 84 



Invested in the following:- — 

Assets as per Ledger Accoun 
Cost value of real estate .... 
Loans on mortgage of real estate (first liens) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule A) 
Cash in company's office 

deposited in bank 
Bills receivable 
Agents' ledger balances 
Office furniture 

Ledger assets (as per balance) 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



TS. 



$1,891,333 79 

10,002,729 05 

1,873,329 46 

2,425,977 40 

135,944 92 

1,437,911 92 

3,907 63 

39,473 67 

7,500 00 

$17,818,107 84 
89,697 73 

$17,728,410 11 



Other Assets. 

Interest due and accrued 

Rents due and accrued 

Market-value of stocks and bonds over cost 

Uncollected premiums on policies in force, $35,803 64 

Deferred premiums on policies in force . 203,944 00 



Total 

Deduct loading (25 per cent) . 

Net am't uncollected and deferred prems 

Total assets per company's books 



$239,747 64 
59,936 91 



393,614 79 

258 33 

44,206 91 



179,810 73 
$18,346,300 87 



1880.] 



OF OTHER STATES. 



87 



Items not admitted. 



Office furniture 
Agents' balances 
Bills receivable 
Total 

Total admitted assets 



$7,500 00 

39,473 67 

3,907 63 



$50,881 30 
$18,295,419 57 



Liabilities. 

Computed premium reserve or net present value of all 
outstanding policies (Actuaries' 4 per cent) . . . $15,100,640 00 

Death losses and matured endowments in 

process of adjustment .... $166,972 86 

Claims resisted by the company . . 31,000 00 
Total policy claims .... 



Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 
Accrued commissions .... 
Reserve on lapsed policies 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities .... 



197,972 86 

4,000 00 

2,679 51 

4,000 00 

33,964 00 

$15,343,256 37 
2,952,163 20 

$18,295,419 57 



Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $2,154,211 21 

received during 1880 . 238,255 02 

Total 

Used in payment of losses and claims . $118,278 05 
of surrendered policies, 

and voided by lapse . 61,069 95 
of dividends to policy- 
holders . . . 303,548 29 
Redeemed by maker in cash . . . 36,240 4§ 
Total 



$2,392,466 23 



Balance note assets Dec. 31, 1880 



519,136 77 
. $1,873,329 46 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 25,766 $49,445,496 00 

Endowment policies 6,722 10,261,375 00 

All other policies 578 2,242,017 00 



Whole-life policies . 
Endowment policies 
All other policies 



New Policies issued in 1880. 



2,796 

1,111 

44 



6,334,213 00 

2,194,323 00 

155,166 0C 



88 



LIFE INSURANCE COMPANIES [Dec. 31, 



Old Policies revived during the Year. 

Whole-life policies . 
Endowment policies 
All other policies 

Old Policies increased during the Year 

Whole-life policies . 
Endowment policies 
All other policies 
Additions by dividends . 



Total number and. amount 



umber. 


Amonnt. 


197 


$418,683 00 


60 


111,700 00 


7 


26,500 00 


r. 
8 




1 


13,615 00 


- 


347,724 00 


- 


199,357 00 



37,290 $71,760,169 00 



Policies ceased to be in Force during the Year 

Terminated by death 

by maturity . 

by expiry . . » 

by surrender 

by lapse 

by change and decrease 
Not taken * 



Total terminated 



Number. 


Amount. 


349 


$729,572 00 


383 


536,534 00 


12 


295,556 00 


401 


700,577 00 


1,645 


3,453,154 00 


2 


316,287 00 


321 


751,408 00 



3,118 $6,783,088 00 



Policies in Force Dec. 81, 1880. 

Number. Amount. 

Whole-life policies , 26,609 $51,250,267 00 

Endowment policies 7,034 11,276,278 00 

All other policies ...»». 529 2,440,536 00 



Totals 



34,172 $64,967,081 00 



SCHEDTJLE 

Stocks and Bonds owned 



United States bonds 
Missouri state bonds 
Kansas city bonds . 
St. Louis city bonds 
Cincinnati city bonds 
Covington city bonds 
Sheboygan city bonds 
Beloit (Wis.) town bonds 
Milwaukee city bonds 
Green Bay city bonds 
Gale town bonds 



A. 

by the Company. 
tJost value. 

$1,733,401 65 

52,497 50 

123,750 00 

105,000 00 

192,150 00 

124,800 00 

51,000 00 

21,236 25 

5,150 00 

14,992 00 

2,000 00 



Market-value. 

1,752,285 63 

55,100 00 

135,800 00 

106,416 67 

193,675 00 

127,300 00 

53,916 66 

22,356 25 

5,270 83 

15,7SS 27 

2,275 00 



$2,426,977 40 $2,470,184 31 



1880.] 



OF OTHER STATES. 



89 



PENN MUTUAL LIFE INSURANCE COMPANY OF PHILA- 
DELPHIA, PENN. 

[Incorporated Feb. 24, 1847. Commenced business May 25, 1847.] 

Samuel C. Huey, President. Henry Austie, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
for rents of company's property 
for profits on bonds and stocks sold 

Premiums received for re-insurance, cash 

Total income ...... 

Net or ledger assets Dec. 31, 1879 . 



Total 



Disbursements. 

Cash paid for losses and additions .... 
Premium notes or loans used in payment of same . 
Cash paid for matured endowments and additions . 
Premium notes or loans used in payment of same . 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 

Cash dividends paid policy-holders, applied in payment 

of premiums . 

Premium notes or loans used in payment of dividends 

Total paid policy-holders . . . . 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees ..... 

for rent ....... 

for commuting commissions 

for furniture and office fixtures 

for advertising and printing 

for incidentals ...... 

for depreciation ..... 

Total disbursements ...... 



$1,056,487 59 

317,641 99 

25,511 58 

20,753 10 

9,021 37 

346 00 

$1,459,761 63 
6,642,462 24 

$8,102,223 87 



$400,328 98 

19,391 37 

96,697 80 

8,432 47 



$524,850 62 
13,000 00 



$511,850 62 
101,592 66 

27,333 63 

193,226 33 
63,073 64 



$897,076 88 

66,991 51 

29,653 85 

9,802 70 

38,298 32 

26,350 46" 

6,968 46 

1,172 87 

2,491 06 

15,214 82 

40,519 83 

9,328 36 

1,143,869 12 



Balance $6,958,354 76 



12 



90 



LIFE INSURANCE COMPANIES [Dec. 31, 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 

Loans on mortgage of real estate (first liens) . 
on collateral security (schedule A) 
on company's policies assigned as collateral 

Premium notes or loans on policies in force 

Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 
deposited in bank 

Bills receivable 

Agents' ledger balances 

Office furniture 

Ledger assets (as per balance) 



8715,796 97 

2,508,384 08 

6,600 00 

131,310 00 

650,493 42 

2,626,075 07 

416 37 

289,313 65 

16,598 66 

10,366 53 

3,000 00 

&6,958,354 75 



Other Assets. 
Interest due and accrued .... 
Rents due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total ..... 

Deduct loading (15 per cent) . 
Net am't uncollected and deferred prems 

Total assets per company's books 



$56,389 62 
62,956 41 



$119,346 03 
17,901 90 



85,509 88 

6,164 16 

315,708 43 



101,444 13 
$7,467,181 35 



Office furniture 
Agents' balances 
Bills receivable 
Total 



Items not admitted. 

$3,000 00 
10,366 53 
16,598 66 



Total admitted assets 



29,965 19 
$7,437,216 16 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks .... 



Net re-insurance reserve . 
Death losses and matured endowments in 
process of adjustment .... 
Claims resisted by the company 

Total policy claims .... 
Life-rate endowment fund 



$132,202 75 
29,140 00 



$6,050,203 00 
85,215 00 

$5,964,988 00 



161,342 75 
42,813 77 



1880.] 



OF OTHER STATES. 



91 



Dividends on unreported premiums 
Premiums paid in advance 

Liabilities as to policy-holders 
Surplus as regards policy-holders 



Gross liabilities 



$24,931 95 

8,603 17 

$6,202,679 64 
1,234,536 52 

$7,437,216 16 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 . $666,959 30 

received during 1880 . 108,292 39 

Total 

Used in payment of losses and claims . $27,823 84 
of surrendered policies, 

and voided by lapse . 27,333 63 
of dividends to policy- 
holders . . . 63,073 64 
Redeemed by maker in cash . . . 6,527 16 
Total 

Balance note assets Dec. 31, 1880 .... 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 



$775,251 69 



124,758 27 
$650,493 42 



Number. 


Amount. 


Whole-life policies 8,574 $24,507,532 00 


Endowment policies ..... 2,601 


5,099,993 00 


All other policies ...... 14 


34,000 00 


Reversionary additions - 


36,508 00 


New Policies issued in 1880. 




Whole-life policies 1,153 


2,718,226 00 


Endowment policies 818 


1,932,235 00 


» 
Old Policies revived during the Year. 




Whole- life policies 22 


44,809 00 


Endowment policies ..... 118 


50,767 00 


All other policies 1 

* 


2,000 00 


Old Policies increased during the Year. 


' 


Whole-life policies 6 


23,796 00 - 


Endowment policies 3 


3,488 00 


All other policies 1 


— 


Additions by dividends - 


16,084 00 


Total number and amount . . . 13,311 If 


34,469,438 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death 152 $464,519 00 

by maturity 55 105,130 00 



92 



LIFE INSURANCE COMPANIES [Dec. 31, 



Terminated by expiry 

by surrender . 

by lapse 

by change and decrease 
Not taken .... 

Total terminated 



Policies in Force Dec. SI, 1880 



Whole-life policies . 
Endowment policies 
All other policies 
Reversionary additions 

Totals 



Schedule A. 

Securities held as Collateral. 

Market-value. 

Northern Central Railroad bonds . . $1,100 00 

30 shares Guarantee Trust and S. D. Co. 3,000 00 

Cincinnati city bond .... 1,250 00 



Xumber 


Amount. 


1 


85,000 00 


211 


464,481 00 


408 


1,038,101 00 


12 


154,040 00 


238 


629,000 00 


1,077 


$2,860,874 00 


1880. 




Number. 


Amount. 


9,038 % 


125,169,501 00 


3,182 


6,365,192 00 


14 


26,000 00 


• 


47,871 00 


12,234 % 


131,608,564 00 



$8,350 00 



Amount loaned. 

$3,000 00 
2,500 00 
1,100 00 

$6,600 00 



Schedule B. 

Stocks and Bonds owned by 



United States bonds 

Louisville and Nashville Railroad bonds 

Louisville city bonds 

St. Louis city bonds 

Canton city bonds . 

Susquehanna Canal bonds 

Lehigh Valley Railroad bonds 

Pennsylvania Railroad mortgage bonds 

Reading Railroad mortgage bonds . 

West Chester railroad bonds . 

American Steamship Company 

United Canal and Railroad bonds 

North Pennsylvania Railroad bonds . 

Harrisburg city water bonds 

Burlington (Io ) water bonds . 

Stony Creek Railroad bonds 

Masonic redemption loan . 

Delaware and Bound Brook R.R. bonds 

Illinois and St. Louis Railroad bonds 

Cinn., Hamilton, and Dayton R.R. bonds, 



the Company. 

Cost value. 

$262,504 32 

7,141 40 

140,812 50 

25,030 00 

10,000 00 

48,600 00 

92,845 00 

203,150 00 

103,000 00 

103,806 35 

25,000 00 

46,250 00 

103,625 00 

50,150 00 

70,500 00 

49,000 00 

100,000 00 

100,000 00 

100,000 00 

103,750 00 



Market- value. 

$262,044 50 

10,450 00 

166,000 00 

33,000 00 

10,000 00 

54,900 00 

113,435 00 

230,020 00 

122,250 00 

118,500 00 

27,750 00 

57,500 00 

125,950 00 

67,850 00 

81,000 00 

53,250 00 

1 OS, 000 00 

123,000 00 

111,000 00 

106,500 00 



1880.] 



OF OTHER STATES. 



93 



Easton and Amboy Railroad bonds . 

Minneapolis and St. Louis Railroad bonds, 

Cinn., Hamilton, and Indianap. R.R. b'ds, 

Cumberland city bonds 

Cleveland city bonds 

Chester city bonds . 

Kansas city bonds . 

Xenia (O.) city bonds 

Baltimore and Ohio Railroad bonds 

Philadelphia city loan 

Union League mortgage bonds 

100 shares Western National Bank . 

209 u Commercial National Bank 

76 " Bank of North America . 

50 " Girard National Bank 
100 " Corn Exchange National Bank 

50 " Mechanics' Bank, St. Louis 
250 " Delaware Mutual Ins. Co. 
700 " Northern Central Railroad 



Cost value. 

100,000 00 

49,500 00 

53,000 00 

45,000 00 

20,375 00 

185,571 00 

102,500 00 

46,350 00 

105,000 00 

46,200 00 

50,000 00 

6,862 50 

11,035 25 

10,168 00 

2,000 00 

5,000 00 

4,950 50 

6,250 00 

25,148 25 



Market-value. 

105,000 00 

55,000 00 

53,250 00 

53,000 00 

27,500 00 

192,920 00 

110,000 00 

47,250 00 

109,500 00 

52,000 00 

53,000 00 

9,000 00 

13,794 00 

20,520 00 

4,200 00 

5,500 00 

5,000 00 

10,750 00 

32,200 00 



$2,626,075 07 $2,941,783 50 



PROVIDENT LIFE AND TRUST COMPANY OF PHILADEL- 
PHIA, PENN. 

[Incorporated March 22, 1865. Commenced business June, 1865.] 

Paid-up Capital, $500,000. 

Samuel R. Shipley, President. Rowland Parry, Actuary. 

Income. 

Total premium income $984,595 79 

Cash received for interest on stocks, bonds, and loans . 120,488 28 

for interest on other debts due the company, 56,803 82 

as discount on claims paid in advance . 468 83 

for rents of company's property . . . 246 51 

Total income $1,162,603 23 

Net or ledger assets Dec. 31, 1879 4,563,556 99 



Total 



Disbursements. 
Cash paid for losses and additions . 

for matured endowments and additions 

Gross amount paid for losses and endowments 
Cash paid to annuitants ..... 
for surrendered policies 



$5,726,160 22 



$212,998 00 
53,447 00 



$266,445 00 

8,535 70 

34,654 81 



94 



LIFE INSURANCE COMPANIES [Dec. 31, 



Premium notes or loans used in purchase of surrendered 
policies, and voided by lapse .... 

Cash surrender values, including reconverted additions 

applied in payment of premiums 

dividends paid policy-holders, applied in payment 

of premiums ...... 

Premium notes or loans used in payment of dividends 

Total paid policy-holders ..... 
Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for furniture and office fixtures 

for advertising 

for incidentals ...... 

Total disbursements 

Balance ........ 

Invested in the following: — 



81,314 86 

3,278 00 

149,000 27 
8,954 10 

$472,182 74 

75,804 72 

17,326 03 

. 6,768 73 

41,264 15 

19,060 73 

3,066 41 

2,328 32 

4,427 19 

12,953 50 



$655,182 52 
$5,070,977 70 



Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 

Ledger assets (as per balance) . 



$522,319 03 

1,484,440 69 

558,861 29 

68,832 18 

2,421,316 94 

15,207 57 

$5,070,977 70 



Other Assets. 

Interest due and accrued .... 
Rents due and accrued .... 
Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 



Total 

Deduct loading (20 per cent) . 

Net am't uncollected and deferred prems 

Total assets per company's books 



$67,351 72 
150,233 30 



$217,585 02 
43,517 00 



33,805 79 

1,358 25 

93,212 56 



174,068 02 
$5,373,422 32 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 



$4,441,847 00 



1880.] 



OF OTHER STATES. 



95 



Death losses due and unpaid . . . $5,165 00 

and matured endowments in 



process of adjustment 


43,633 00 




Due and unpaid on annuity claims . 


242 06 




Total policy claims .... 




$49,040 06 




Unpaid dividends of surplus due policy-holders 


11,078 36 


Premiums paid in advance 


• • • 


13,390 86 




• • • 


99 75 


Liabilities as to policy-holders . 


$4,515,456 03 


Surplus as regards policy-holders 


• • • 


857,966 29 


Gross liabilities .... 


$5,373,422 32 


Premium Note Account. 




Premium notes on hand Dec. 31, 1879 


$73,798 96 




received during 1880 


7,666 61 




Total 




$81,465 57 


JLKJbail .*.... 




Used in payment of surrendered policies, 






and voided by lapse . 


$1,314 86 




of dividends to policy- 






holders 


8,954 10 




Redeemed by maker in cash 


2,364 43 




Total 




12.633 39 



Balance note assets Dec. 31, 1880 .... 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 



Whole-life policies . 
Endowment policies . 
All other policies 
Reversionary additions 



,832 18 



New Po 



icies 



Whole-life policies . 
Endowment policies . 
All other policies 



Whole-life policies . 

Endowment policies . 

Endowment policies increased during the year . 

Additions by dividends . 

Total number and amount 





Number. 


Amount. 


. 


1,801 


$5,534,644 00 


. 


5,460 


16,483,695 00 


. 


96 


359,000 00 


. 


- 


108,956 00 


issued in 1880. 






• • • 


110 


400,595 00 


• • • 


1,290 


4,510,047 00 


• • • 


15 


73,000 00 


id during the Year. 




• • • 


1 


5,000 00 


. 


4 


10,000 00 


g the year . 


- 


12,000 00 


. 


— 


24,624 00 



8,777 $27,521,561 00 



96 



LIFE INSURANCE COMPANIES [Dec. 31, 



Policies ceased to be in Force during the Year. 

Terminated by death 

by maturity . 

by expiry 

by surrender . 

by lapse 

by change and decrease 
Not taken 



Total terminated 



Number 

65 


Amount. 

$202,180 00 


31 


53,447 00 


7 


43,600 00 


161 


432,842 00 


288 


880,029 00 


5 


96,512 00 


18 


57,500 00 



575 11,760,110 00 



Whole-life policies . 
Endowment policies . 
All other policies 
Reversionary additions 



Policies in Force Dec. 31, 1880. 

Number. Amount. 

1,805 $5,652,950 00 

6,314 19,673,765 00 



Totals 



83 305,900 00 
122,S36 00 

8,202 $25,755,451 00 



Schedule A. 
Securities held as Collateral. 

Market-value. 

$5,600 00 
17,600 00 



United States bonds 
Pennsylvania state bonds . 
Susquehanna Coal Company bonds . 
Pittsburg city bonds 
Lehigh Coal and Navigation Co. bonds 
40 shares Mine Hill and Schuylkill R.R. 
Lehigh and Wilkesbarre Coal Co. consols 
Mt. Carmel and Locust Mt. mort. bonds 
Lehigh Coal and Navigation Co. consols. 
3,700 shares North Pennsylvania R.R. 

12 ** United Cos. of New Jersey 
Schuylkill Navigation Co. 2d mort. bonds 
Texas and Pacific Railroad consols. . 

500 shares Lehigh Coal and Nav. Co. 
1,373 " Pennsylvania Railroad . 
Sunbury and Erie Railroad bonds . 
154 shares First Nat'l Bank, Norristown 

10 " Phila.,Germ'nt'n,andN.R.R. 
106 " Pennsylvania Railroad 
240 " Merchants' National Bank 

22 u Bank of North America . 
500 " Union Passenger Railroad 
Lombard and South Pass. R.R. bond 
29 shares Penna. Steel Manuf. Co. . 
90 " Penn. Nat'l Bank . 
25 u Fire Assoc'n of Philadelphia 



2,040 00 
15,400 00 
3,450 00 
2,320 00 
63,000 00 
21,750 00 
108,100 00 
207,200 00 
2,160 00 
2,618 00 
64,260 00 
19,000 00 
90,618 00 
3,150 00 
34,650 00 
1,080 00 > 
6,996 00 > 
24,000 00 
5,940 00 
57,500 00 
1,000 00) 
7,250 00 \ 
5,040 00 > 
7,650 00 > 



Amount loaned. 

$4,743 75 
15,725 28 

1,800 00 
13,271 46 

2,900 00 

1,474 17 

49,861 11 

19,708 88 

73,977 78 

144,395 56 

687 75 

2,176 53 
49,125 00 
11,791 25 
66,511 04 

2,948 33 
18,735 41 

5,933 34 

19,483 33 

4,338 40 

39,S00 00 

6,500 00 
2,972 92 



$779,372 00 $558,861 29 



1880.] 



OF OTHER STATES. 



97 



SCHEDULE B. 

Bonds owned by the Company. 

Cost value. 

$726,750 00 



United States bonds 
Pennsylvania state bonds . 
Lehigh Valley Railroad consols 
Pennsylvania Railroad consols . 
Reading Railroad receivers' certificates 
Texas and Pacific Railroad bonds 
Central New Jersey Car Trust Co bonds 
Easton and Aruboy Railroad bonds . 
New York and Pacific Car Trust Co. bonds 
Catasauqua and Fogelsville R.R. bonds 
Crane Iron Company bonds 
Summit Branch Railroad bonds 
Phila. and Reading Coal and Iron Co. bonds 
Car Trust Company of New York bonds 
United States bonds 
Car Trust Company of Pennsylvania 
Car Trust Company of New York . 
Central New Jersey Car Trust Company 



30,993 75 

292,500 00 

101,184 38 

173,802 81 

106,000 00 

134,000 00 

85,000 00 

65,340 00 

36,000 00 

45,000 00 

22,500 00 

14,850 00 

27,396 00 

200,000 00 

149,000 00 

127,000 00 

24,000 00 



Market- value. 

$710,500 00 

31,500 00 

351,000 00 

191,400 00 

175,149 50 

108,000 00 

134,000 00 

91,800 00 

66,000 00 

37,080 00 

50,000 00 

26,250 00 

14,850 00 

27,000 00 

200,000 00 

149,000 00 

127,000 00 

24,000 00 



£,421,316 94 $2,514,529 50 



PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF 

NEW YORK, N.Y. 

[Incorporated Feb. 25, 1875. Commenced business Aug. 10, 1875.] 
Paid-up Capital, $100,000. 
Sheppard Homans, President. William E. Stevens, Secretary. 

Income. 
Total premium income $60,740 50 

Cash received for interest on stocks, bonds, and loans . 5,111 06 

for other debts due the company . . 4,000 00 



Total income ....... 

Net or ledger assets Dec 31, 1879 .... 

Total 

Disbursements. 
Cash paid for losses and additions .... 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 

dividends paid policy-holders, applied in payment of 
premiums ....... 



Total paid policy-holders . 
13 



1,851 56 
147,251 83 

$217,103 39 



$27,444 50 
5,000 00 

$22,444 50 
1,361 82 

656 51 
$24,462 83 



98 



LIFE INSURANCE COMPANIES [Dec. 31, 



of 



Cash paid for commissions to agents 

for salaries and travelling-expenses 
for medical examiner's fees 
for salaries of officers and office empl 
for taxes and fees 
for rent ..... 
for commuting commissions 
advanced to officers or agents . 
paid for furniture and office fixtures 
for advertising .... 
for incidentals .... 
for depreciation 

Total disbursements .... 



Balance 



agents 
oy^s 



Invested in the following : — 

Assets as per Ledger Accounts. 
Loans on mortgage of real estate (first liens) . 

on company's policies assigned as collateral . 
Premium notes or loans on policies in force 
Cost value of United States bonds owned 

Cash in company's office 

deposited in bank 

Bills receivable 

Agents' ledger balances 

Ledger assets (as per balance) .... 

Other Assets. 
Interest due and accrued ...... 

Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force . 



Total 

Deduct loading (10 per cent) . 
Net am't uncollected and deferred prems. 
Furniture aud fixtures .... 
Commuted commissions .... 

Total assets per company's books 



$8,240 16 
13,562 23 

K>1,802 39 
2.180 23 



Items not admitted. 



Office furniture, etc. 
Commuted commissions 
Agents' balances 
Bills receivable 
Total 

Total admitted assets 



$4,000 00 

2,000 00 

4,238 86 

115 00 



$13,220 17 
5,437 67 
2,420 42 
6,966 50 
1,392 29 
2,700 53 

152 55 
2,690 52 

814 28 

1,117 54 

3,322 80 

20,218 75 

$84,916 85 

$132,186 54 



$18,000 00 

300 31 

939 00 

104,500 00 

1,531 58 

2,561 79 

115 00 

4,238 86 

$132,186 54 



180 49 
8,000 00 



19,622 16 
4,000 00 
2,000 00 

$165,989 19 



10,353 86 
$155,635 33 



1880.] 



OF OTHER STATES. 



99 



Liabilities. 

Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Deduct net value of re-insured risks 

Net re-insurance reserve .... 

Death losses and matured endowments in process of ad 
justment ....... 

Due for salaries, rent, and office expenses 
Miscellaneous 



Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities 



$48,918 00 
2,741 00 

$46,177 00 

6,000 00 

3,200 00 

400 00 

$55,777 00 
99,858 33 

$155,635 33 



Premium Note Account. 

Premium notes on hand Dec. 31, 1879 . $1,116 55 
received during 1880 . ■ 250 00 

Total . . . . ' . . 

Used in payment of surrendered policies, 

and voided by lapse .... 152 55 

Redeemed by maker in cash . . . 275 00 

Total ...... 

Balance note assets Dec. 31, 1880 .... 



$1,366 55 



427 55 



$939 00 



Exhibit of Policies. 

Policies and Additions in Force Dec. 31, 1879 . 

Number. Amount. 

Whole-life policies 213 $184,681 00 

Endowment policies 24 71,450 00 



All other policies 



New Policies issued in 1880. 



Whole-life policies . 
Endowment policies 
All other policies 

Total number and amount 



840 1,950,900 00 



913 170,306 00 

34 32,100 00 

951 1,201,775 00 



2,975 $3,611,212 00 



Policies ceased to be in Force during the Year. 

Number. Amount. 

Terminated by death . . . . • 16 $27,849 00 

by expiry 247 435,850 00 

by surrender .... 54 32,300 00 

by lapse 261 61,483 00 

by change and decrease . . - 8,500 00 

Not taken 154 117,520 00 

Total terminated 



732 $683,502 00 



100 



LIFE INSURANCE COMPANIES [Dec. 31, 

Policies in Force Dec. SI, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 

Totals 



Number. Amount 

717 $239,010 00 

52 98,500 00 

1,474 2,590,200 00 



2,243 $2,927,710 00 



TRAVELERS' INSURANCE COMPANY (LIFE DEPARTMENT) 
OP HARTFORD, CONN. 

[Incorporated June 17, 1863. Commenced business July, 1866.] 

James G. Batterson, President. Rodney Dennis, Secretary. 



Income. 

Total premium income 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property 
for profits on bonds and stocks sold 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 
Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 

Cash paid to annuitants 

for surrendered policies .... 

Total paid policy-holders 

Cash paid for commissions to agents 

for salaries and travelling-expenses of agents 

for medical examiner's fees 

for salaries of officers and office employes 

for taxes and fees 

for rent 

for furniture and office fixtures 

for advertising 

for incidentals ...... 

Total disbursements 

Balance ........ 



$453,273 02 

193,495 62 

3,312 00 

801 55 

19,776 41 

8,552 53 

$679,211 13 
3,769,219 96 

$4,448,431 09 



$217,606 83 
26,508 00 

$244,114 83 
1,150 00 
9,253 55 

$254,518 38 

45,733 51 

11,984 56 

6,890 96 

16,303 49 

3,551 53 

525 00 

92 00 

20,603 35 

8,038 10 

$368,240 88 

$4,080,190 21 



1880.] 



OF OTHER STATES. 



101 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) . 

on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule A) 
Cash in company's office . 
deposited in bank . 
Bills receivable .... 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets . 

Other Assets. 

Interest due and accrued . 

Market-value of stocks and bonds over cost 

Uncollected premiums on policies in force, $39,596 36 

Deferred premiums on policies in force . 60,062 34 

Total $99,658 70 

Deduct loading (12 per cent) . . . 11,959 04 

Net am't uncollected and deferred prems 

Total assets per company's books 



$1,116,581 85 

1,939,945 50 

1,500 00 

911,956 23 

4,440 27 

105,316 36 

450 00 

$4,080,190 21 
232,592 08 

$3,847,598 13 



47,858 72 
70,076 77 



87,699 66 
$4,053,233 28 



Items not admitted. 



Bill receivable 



Total assets of Life Department 
Total assets of Accident Department 

Gross assets 



450 00 



. $4,052,783 28 
. 1,466,410 95 

. $5,519,194 23 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks .... 

Net re-insurance reserve ...... 

Reserve for indemnity contracts of life policies 
Death losses and matured endowments in 



process of adjustment . 
Claims resisted by the company 
Total policy claims . 



$63,518 00 
18,000 00 



Liabilities as to policy-holders in Life Department 
Liabilities as to policy-holders in Accident Department 

Gross liabilities 

Surplus as regards policy-holders 



^3,466,874 00 
15,437 00 

$3,451,437 00 
5,000 00 



81,518 00 

$3,537,955 00 
515,862 72 

$4,053,817 72 

$1,465,376 51 



102 



LIFE INSURANCE COMPANIES [Dec. 31, 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount 

9,334 $15,668,980 00 



New Policies issued in 1880. 



Whole-life policies 
Endowment policies 
All other policies 



Whole-life policies . 
Endowment policies 
All other policies 



Old Policies revived during the Year. 

Whole-life policies 

Endowment policies 

Old Policies increased during the Year. 

Whole-life policies 

Endowment policies 



1,934 2,342,046 00 
84 171,100 00 



1,478 


2,782,738 00 


246 


418,644 00 


19 


40,400 00 


\r. 
35 


42,890 00 


9 


6,983 00 


ar. 


2,482 00 


- 


1,000 00 



Total number and amount 



13,139 $21,477,269 00 



Policies ceased to be in Force during the Year. 

Number. Amount 

Terminated by death 129 $234,784 00 

by maturity 36 30,162 00 

by surrender .... 32 35,280 00 

by lapse 653 1,167,000 00 

by change and decrease . . 186 535,318 00 

Not taken 189 376,086 00 



Total terminated 1,225 $2,378,630 00 

Policies in Force Dec. 51, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 

Totals 



Nnmber. Amount 

9,827 $16,449,513 00 

2,011 2,510,026 00 

76 139,100 00 

11,914 $19,098,639 00 



Schedule A. 
Stocks and Bonds owned by the Company. 

Cost value. 

United States bonds .... $11,675 00 



Connecticut state bonds 
Indianapolis city bonds 
Topeka city bonds . 
Oswego city bonds . 
Middletown town bonds 



42,800 00 
7,766 66 
30,586 84 
10,639 72 
10,786 67 



Market-value. 

$10,400 00 

42,400 00 

10,000 00 

36,000 00 

10,300 00 

10,700 00 



1880.] 



OF OTHER STATES. 



103 



Cost value. Market-value. 

Columbus city bonds .... $10,480 83 $10,400 00 

Hartford town bonds .... 10,600 00 10,700 00 

Montreal school bonds .... 27,17993 26,78000 

Montreal Harbor bonds .... 21,01040 20,60000 

Pilot (111.) town bonds .... 13,287 12 12,120 00 

Norton (111.) town bonds .... 6,736 43 6,060 00 

Limestone (111.) town bonds . . . 6,725 06 6,060 00 

Lakin (Ks.) township bonds . . . 7,455 00 7,140 00 

Lyon (Ks.) county bonds . . . 4,548 11 4,500 00 

600 shares Hartford City Gas-Light Co. . 28,635 01 18,000 00 

Chicago, Mil., and St. Paul R.R. bonds . 87,365 31 97,500 00 

Keokuk and Des Moines Railroad bonds . 4,950 00 10,000 00 

Lake Shore and Mich. So. R.R bonds . 2,110 00 2,360 00 

Detroit, Monroe, and Toledo R.R. bonds, 21,432 17 23,000 00 

Buffalo, New York, and Erie R.R. bonds, 53,706 67 61,500 00 

Northern Missouri Railroad bonds . . 10,700 00 12,000 00 

Syr.,Binghampton,andN.Y. R.R. bonds, 26,236 50 29,500 00 

550 shares N. Y., N. H., and Hart. R.R. 84,152 75 97,350 00 

100 . " N. Y. Central and H. R. R.R. 12,693 75 15,400 00 

135 " Charter Oak Nat'l Bank, Hart. 17,199 25 18,630 00 

350 " American Nat'l Bank, Hart. . 23,324 50 25,550 00 

236 " Phcenix National Bank, Hart. 36,254 00 39,412 00 

100 " Mercantile Nat'l Bank, Hart. . 10,200 00 13,000 00 

441 " Hartford Nat'l Bank, Hartford, 67,630 50 72,324 00 

87 " First National Bank, Hartford, 8,903 13 10,440 00 

119 " Far.'sandMec.'sN'IB'k, Hart. 17,593 00 15,232 00 
169 " Nat'l Exchange Bank, Hart. . 10,721 50 12,675 00 
200 " Am. Exch. Nat'l Bank, N.Y. . 21,413 00 24,400 00 
400 " Mer.'s Exch. Nat'l Bank, N.Y. 19,912 79 20,000 00 
100 " Metropolitan Nat'l Bank, N.Y. 13,115 63 15,000 00 
100 " Fourth National Bank, N.Y. . 9,530 00 11,200 00 
100 " Atlas National Bank, Boston . 11,900 00 12,400 00 
100 " N'IB'kof the Com'th, Boston, 11,212 75 11,700 00 
200 " Thames Nat'l Bank, Norwich . 24,600 00 28,000 00 
100 " First National Bank, Lafayette, 12,700 00 12,500 00 
350 " Conn. Trust and S.D. Co., Hart. 29,400 00 35,000 00 

120 " Security Company, Hartford . 12,086 25 13,800 00 



$911,956 25 $982,033 00 



104 



LIFE INSURANCE COMPANIES [Dec. 31, 



UNION MUTUAL LIFE INSURANCE COMPANY OF AUGUSTA, 

MAINE. 

[Incorporated July 17, 1848. Commenced business Oct. 1, 1849.] 

John E. DeWitt, President. James P. Carpenter, Secretary. 

Principal Office, Portland, Me. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 
for profit and loss account . 



Total income 
Net or ledger assets Dec. 31, 1879 
Net appreciation 

Total .... 



1,578,170 72 
64,541 44 



Disbursements. 

Cash paid for losses and additions . 
Premium notes or loans used in payment of same 
Cash paid for matured endowments and additions 
Premium notes or loans used in payment of same 

Gross amount paid for losses and endowments 
Cash paid for surrendered policies . 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse 

Cash surrender values, including reconverted additions 

applied in payment of premiums . 

dividends paid policy-holders, $1,396.45; applied 

in payment of premiums, $20,769.07 . 

Premium notes or loans used in payment of dividends 

Reduction of premium 

Total paid policy-holders . 
Cash paid for commissions to agents 
for medical examiner's fees 
for salaries of officers and office employes 
for taxes and fees 
for advertising . 
for incidentals . 



Total disbursements . 
Balance 



$770,673 59 

271,714 88 

12,516 48 

9,914 84 

44,280 48 

1,152 01 

61, 110,252 28 



6,642,712 16 
$7,752,964 44 



$385,298 28 

24,5S6 44 

349,676 28 

76,109 00 

$835,670 00 
40,658 45 

61,456 52 

90,833 79 

22,165 52 

15,694 00 

678 17 

$1,067,156 45 

149,656 63 

9,278 50 

62,507 68 

14,530 90 

10,540 83 

47,217 96 

$1,360,888 95 

$6,392,075 49 



1880.] 



OF OTHER STATES. 



105 



Invested in the following: — 

Assets as per Ledger Accounts. 

Value of real estate ....... 

Loans on mortgage of real estate .... 

on collateral security (schedule A) . 

on company's policies assigned as collateral . 
Premium notes or loans on policies in force 
Market-value of stocks and bonds owned (schedule B) 
Cash in company's office . 
deposited in bank . 
Bills receivable .... 

Agents' ledger balances . 
Accrued interest on bonds purchased 

Ledger assets (as per balance) . 



^2,470,003 41 

1,670,753 42 

317,890 70 

2,053 87 

1,053,508 29 

754,594 50 

5,489 20 

112,736 34 

1,827 88 

3,015 12 

202 76 

$6,392,075 49 



Other Assets. 

Interest due and accrued .... 
Rents due and accrued .... 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total 

Deduct loading (10 per cent) . 

Net am't uncollected and deferred prems. 

Total assets per company's books 



$31,414 98 
75,325 54 

,740 52 
10,674 05 



Items not admitted. 



Agents' balances 
Bills receivable 
Total 

Total admitted assets 



141,909 94 
6,297 94 



96,066 47 



• • . 


$6,636,349 84 


D. 

$3,015 12 
1,827 88 


4,843 00 




• • • 


$6,631,506 84 



Liabilities. 
Computed premium reserve or net present value of all 

outstanding policies (Actuaries' 4 per cent) . 
Deduct net value of re-insured risks .... 

Net re-insurance reserve ...... 

Premium obligations in excess of net values of their policies, 
Death losses due and unpaid . . . $6,451 15 

Matured endowments due and unpaid . 13,957 00 

Death losses and matured endowments in 

process of adjustment .... 65,035 75 

Claims resisted by the company . . 46,974 70 

Un presented death claims . . . 38,696 54 

Total policy claims .... 

14 



i, 114,737 00 
1,531 00 

1,113,206 00 
840 00 



171,115 14 



106 



LIFE INSURANCE COMPANIES [Dec. 31, 



Unpaid dividends of surplus due policy-holders 
Premiums paid in advance 
All other liabilities . 

Liabilities as to policy-holders 
Surplus as regards policy-holders 



Gross liabilities . 



$8,283 01 

34,076 37 

7,406 55 

$6,334,927 07 
296,579 77 

$6,631,506 84 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 
received during 18S0 

Total 

Used in payment of losses and claims 

of surrendered policies, 
and voided by lapse . 
of dividends to policy- 
holders 
Redeemed by maker in cash 

Total ...... 



$1,148,488 29 

97,379 80 

$100,695 44 

61,456 52 

16,087 00 

14,120 84 



$1,245,868 09 



Balance note assets Dec. 31, 1880 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 



192,359 80 
$1,053,508 29 







Number. 


Amount. 


Whole-life policies 


• 


8,354 $16,868,001 00 


Endowment policies 


. 


5,025 


6,555,269 00 


All other policies 


• 


1,536 


3,274,100 00 


New Policies issued 


in 1880. 






Whole-life policies 


. 


152 


146,432 00 


Endowment policies 


• 


1,362 


2,448,240 00 


Old Policies revived during the Year. 




Whole-life policies 


. 


42 


110,737 00 


Endowment policies ..... 


. 


29 


49,260 00 


All other policies 


. 


1 


3,500 00 


Policies increased during the year . 


. 


334 


677,550 00 


Additions by dividends .... 


• 


- 


9,512 00 


Total number and amount 


16,835 $30,142,601 00 


Policies ceased to be in Force 


during 


the Year. 








Number. 


Amount. 


Terminated by death .... 


. 


193 


$375,744 00 


by maturity .... 


. 


319 


431,131 00 


by expiry .... 


. 


353 


746,412 00 


by surrender .... 


. 


301 


665,311 00 


by lapse .... 


. 


786 


1,287,224 00 


by change and decrease 


. 


334 


784,228 00 


Not taken ...... 


• 


429 


815,689 00 


Total terminated .... 


2,715 


$5,105,739 00 



1880.] 



OF OTHER STATES. 



107 



Policies in Force Dec. SI, 1880. 



Whole-life policies . 
Endowment policies 
All other policies 
Reversionary additions 

Totals 



Number. Amount. 

7,603 $15,104,667 00 

5,030 6,795,629 00 

1,487 3,127,800 00 

8,766 00 



14,120 $25,036,862 00 



Schedule A. 

Securities held as Collateral. 

Market-value. 

Atchison , Top., and S. Fe R.R. mort. bonds, 81 ,220 00 

300 shares Lake Shore and Mich. So. R.R. 

300 " N. Y. Central and H. R. R.R. 

500 " Western Union Telegraph Co. 

500 " Chic, Burl., and Quincy R.R. 

Kansas City, St. Jo., and C. B. R.R. bonds, 

Burl, and Mo. Riv. R.R. in Nebraska b'ds, 

Phila , Wil., and Bait. R.R. bonds . 

150 shares Passaic (N.J.) Print Works 

500 " Chic, Rock Isl'd and Pac R.R 

Paid-up life policy .... 

Tax certificates .... 



Amount loaned. 

$720 00 

100,000 00 

50,000 00 
50,000 00 

50,000 00 

15,000 00 

50,000 00 

2,000 00 

170 70 

$423,036 42 $317,890 70 



40,575 001 
46,425 00 V 
40,437 50j 
90,000 00 
44,400 00 > 
14,560 00 > 
52,500 00 
21,000 00 
69,250 00 
2,498 22 
170 70 



Schedule B 

Stocks and Bonds owned by 

United States bonds 

District of Columbia bonds 

Richmond city bonds 

Bangor city bonds . 

Lewiston city bonds . 

Portland city bonds . 

New Bedford city bonds 

Toledo (O.) city bonds 

Wilmington city bonds 

Chicago city bonds . 

Chicago city scrip 

Cleveland city bonds 

Watertown town bonds 

Sheldon (Vt.) bonds 

St. Louis city bonds 

Cincinnati city bonds 

Union Pacific Railroad bonds 

Atchison, Topeka, and S. Fe R.R. bonds 

Milwaukee and St. Paul Railroad bonds 

Chicago, Burl., and Quincy R.R. bonds 



the Company. 

Cost value. 

$201,247 27 

12,937 50 

10,250 00 

106,625 00 

20,775 00 

52,375 00 

25,587 50 

15,700 00 

5,000 00 

12,795 00 

25 00 

11,600 00 

10,337 50 

20,000 00 

2,040 00 

3,180 00 

56,278 75 

28,625 00 

28,906 25 

72,500 00 



Market-value. 

$224,750 00 

15,600 00 

12,900 00 

115,000 00 

22,800 00 

57,500 00 

26,650 00 

15,700 00 

5,600 00 

12,575 00 

25 00. 

11,6'82 00 

10,300 00 

20,000 00 

2,032 50 

3,105 00 

58,750 00 

30,500 00 

31,625 00 

77,500 00 



$696,784 77 $754,594 50 



108 



LIFE INSURANCE COMPANIES [Dec. 31, 



UNITED STATES LIFE INSURANCE COMPANY OF NEW 

YORK, N.Y. 

[Incorporated February, 1850. Commenced business Marcb 4, 1850.] 

Paid-up Capital, $250,000. 

T. H. Brosnan, President. C. P. Fealeigh, Secretary. 



Income. 

Total premium income ...... 

Cash received for interest on stocks, bonds, and loans 

for interest on other debts due the company 
as discount on claims paid in advance 
for rents of company's property . 
for profits on securities sold, etc. 

Total income 

Net or ledger assets Dec. 31, 1879 .... 



Total 



$593,517 00 

238,292 93 

26,430 19 

1,104 50 

4,070 71 

39,338 37 

8902,753 70 

4,714,223 63 

$5,616,977 33 



Disbursements. 

Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Received for losses and claims on policies re-insured 

Net amount paid for losses and endowments 
Cash paid for surrendered policies .... 

dividends paid policy-holders, applied in payment of 
premiums ........ 



Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employes . 

for taxes and fees 

for rent 

for advertising ...... 

for incidentals 

Total disbursements 

Balance 



$298,348 92 
49,611 51 

$347,960 43 
15,000 00 

$332,960 43 
129,747 62 

30,036 89 

$492,744 94 
29,627 50 
69,377 44 
56,540 56 
9,582 15 
42,419 70 
12,794 34 
17,404 18 
19,320 63 
29,410 81 

$779,222 25 

$4,837,755 08 



1880.] 



OF OTHER STATES. 



109 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on collateral security (schedule A) . 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 

Cash in company's office 

deposited in bank 

Bills receivable ...... 

Agents' ledger balances ..... 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets . 

Total net or ledger assets .... 

Other Assets. 



Interest due and accrued .... 
Market value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total ...... 

Deduct loading (10 per cent) . 

Net am't uncollected and deferred prems. 



$54,981 61 
64,940 59 

$119,922 20 
11,992 22 



Total assets per company's books 

Items not admitted. 
Agents' balances $6,184 36 



Bills receivable 
Total 

Total admitted assets 



15,097 48 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks . 



Net re-insurance reserve . 
Matured endowments due and unpaid 
Death losses in process of adjustment 
Claims resisted by the company 

Total policy claims . 
Unpaid dividends of surplus due policy-holders 
Premiums paid in advance . 



$2,190 00 
32,170 00 
22,200 00 



$103,235 97 

2,053,612 72 

701,250 00 

109,013 97 

1,821,163 49 

284 97 

27,912 12 

15,097 48 

6,184 36 

$4,837,755 08 
330 97 

$4,837,424 11 » 



63,480 12 
132,390 26 



107,929 98 
. $5,141,224 47 



21,281 84 
$5,119,942 63 



$4,479,130 00 
38,197 00 

$4,440,933 00 



56,560 00 

9,465 80 

12,970 34 



110 



LIFE INSURANCE COMPANIES [Dec. 31, 



Liability on lapsed policies 
Unpresented accounts, etc. 

Liabilities as to policy-holders 
Surplus as regards policy-holders 



Gross liabilities 



Premium Note Account. 



Premium notes on hand Dec. 31, 1879 
received during 1880 

Total 

Used in payment of losses and claims 

of surrendered policies 
and voided by lapse 
Redeemed by maker in cash 

Total 



$101,908 97 
28,357 34 

$1,515 92 

4,283 68 
15,452 74 



$5,226 56 

3,112 52 

$4,528,268 22 

591,674 41 

$5,119,942 63 



$130,266 31 



21,252 34 

$109,013 97 



Balance note assets Dec. 31, 1880 

Exhibit of Policies. 

Policies and Additions in Force Dec 81, 1879. 

Number. Amount. 

7,839 $14,507,600 00 

1,642 2,274,833 00 



Whole-life policies . 
Endowment policies . 
All other policies 



230 580,270 00 



New Policies issued in 1880. 

Whole-life policies 

Endowment policies ..... 
All other policies 

Old Policies revived during the Year 

Whole-life policies 

Endowment policies ..... 

All other policies ...... 

Old Policies increased during the Year. 

Whole-life policies 17 

Endowment policies ..... 22 

All other policies ...... 1 

Additions by dividends 



Total number and amount 



2,571,210 00 

726,735 00 

56,876 00 

32,000 00 
5,000 00 
2,500 00 

61,320 00 

92,790 00 

4,000 00 

37,043 00 

10,851 $20,952,177 00 



776 

279 

23 

16 
4 
2 



Policies ceased to be in Force during the Year. 

Number. 

Terminated by death 164 

by maturity . 

by surrender . 

by lapse 

by change and decrease 



Not taken 

Total terminated 



30 
255 
587 

35 
352 



Amount 

$262,576 00 

55,454 00 

508,044 00 

1,373,284 00 

195,633 00 

1,700,420 00 



1,423 $4,095,411 00 



1880.] 



OF OTHER STATES. 



Ill 



Policies in Force Dec. 31 



Whole-life policies . 
Endowment policies . 
All other policies 

Totals 



1880. 



Number. Amount. 

7,552 $13,806,657 00 

1,658 2,500,463 00 

218 549,646 00 



9,428 $16,856,766 00 



Schedule A. 

Securities held as Collateral. 



Dry Dock, E. Br'dway, and Battery R.R. 

mortgage bond ..... 

United States bond 

Milwaukee and St. Paul conv. mort. bond, 

100 shares Western Union Tel. Co. 



800 

400 

500 

1,500 

1,600 

100 

1,300 



N. Y. Cent, and Hud. R. R.R. 
Chic, and No.-W'n R.R. pref. 
N. Y. Cent, and Hud. R. R.R. 
Lake Shore and M. So. R R. 
N. Y. Cent, and Hud. R R. R. 
Wabash, St. L.,and P. R.R. 
Chic, and No. -Western R.R. 



Market-value. 


Amount loaned. 


$1,100 00 


$800 00 


225 00 


200 00 


1,230 00 


250 00 


8,100 00 ) 
123,200 00 > 


100,000 00 


56,000 00 > 
77,000 00 > 


100,000 00 


201,000 00 


150,000 00 


246,400 00 > 
8,500 00 > 


200,000 00 


182,000 00 


150,000 00 


$904,755 00 


$701,250 00 



Schedule B. 

Bonds owned by the Company. 

Cost value. 

$204,800 00 



United States bonds 

New York city bonds 

New York county bonds 

Brooklyn city bonds 

Kings county bonds . 

Buffalo city bonds . 

Erie county bonds . 

Richmond county bonds 

East Chester town bonds 

West Chester town bonds 

White Plains town bonds 

West Farms town bonds . 

Morrisania town bonds 

Rochester city funding loan 

Jersey city bonds 

Chicago city bonds . 

South Norwalk water fund 

Missouri state bond . 

New York and Erie R.R. 3d mort. bonds, 



187,925 51 

388,347 63 

313,454 98 

57,596 71 

156,287 54 

25,594 52 

2,630 10 

14,007 87 

12,793 32 

5,230 55 

12,569 41 

19,324 24 

34,032 33 

212,314 16 

49,167 12 

100,000 00 

18,742 50 

6,345 00 



Market-value. 

$182,850 00 

215,382 50 

426,218 75 

362,977 50 

58,825 00 

161,210 00 

31,000 00 

2,650 00 

13,835 00 

13,920 00 

5,065 00 

12,720 00- 

20,400 00 

39,000 00 

208,420 00 

55,500 00 

117,000 00 

19,980 00 

6,600 00 



,821,163 49 $1,953,553 75 



112 



LIFE INSURANCE COMPANIES [Dec. 31, 



VERMONT LIFE INSURANCE COMPANY OF BURLING- 
TON, VT. 

[Incorporated Oct. 28, 1868. Commenced business Jan. 1, 1869.] 

Paid-up Capital, $ 100,000. 

Warren Gibbs, President. C. R. Tcrrill, Secretary. 

Income. 
Total premium income $34,571 27 



Cash received for interest on stocks, bonds, and loans 

for rents of company's property 
Miscellaneous 



Total income 
Net or ledger assets Dec. 31, 1880 

Total .... 



Disbursements. 
Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 
Cash paid for surrendered policies .... 
Premium notes or loans used in purchase of surrendered 

policies, and voided by lapse .... 
Cash surrender values, including reconverted additions 
applied in payment of premiums 
dividends paid policy-holders, applied in payment 
of premiums 

Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employe's 

for taxes and fees 

for rent 

for furniture and office fixtures 

for advertising 

for incidentals ...... 

Total disbursements 

Balance 

Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 



10,141 53 

234 17 

61 81 

$45,008 78 
205,669 75 



250,678 53 


$1,985 56 


522 94 


$2,508 50 


1,094 32 



124 57 



21 99 



2,936 51 



$6,685 89 


6,000 00 


7,543 51 


5,806 17 


2,520 72 


5,453 46 


530 24 


905 43 


183 17 


330 38 


2,564 22 


$38,523 19 


$212,155 34 


$13,550 00 


115,917 61 



1880.] 



OF OTHER STATES. 



113 



Loans on collateral security (schedule A) 

on company's policies assigned as collateral 
Premium notes or loans on policies in force 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office ..... 

deposited in bank 
Bills receivable ...... 

Ledger assets (as per balance) . 



$25,900 00 

625 00 

5,711 88 

36,451 50 

1,161 08 

12,695 74 

142 53 

$212,155 34 



Other Assets. 

Interest due and accrued . 

Rents due and accrued .... 

Market-value of real estate over cost 

of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 

Total ..... 

Deduct loading .... 

Net am't uncollected and deferred prems 
Furniture and fixtures 

Total assets per company's books 



$2,696 24 
2,708 72 

$5,404 96 
956 35 



2,612 31 
131 25 
450 00 

1,840 50 



4,448 61 
1,650 00 

$223,288 01 



Office furniture, etc. 
Bills receivable 
Total 



Items not admitted. 

$1,650 00 
142 53 



Total admitted assets 



1,792 53 

$221,495 48 



Liabilities. 

Computed premium reserve or net present value of all out 

standing policies (Actuaries' 4 per cent) 
Deduct net value of re-insured risks 



Net re-insurance reserve . 
Claims resisted by the company 

Liabilities as to policy-holders 
Surplus as regards policy-holders 

Gross liabilities 



$121,122 00 
916 00 

$120,206 00 
2,000 00 

$122,206 00 
99,289 48 

$221,495 48 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. Amount. 

Whole-life policies 390 $701,167 00 

Endowment policies 124 171,849 00 

All other policies 52 85,991 00 

15 



114 



LIFE INSURANCE COMPANIES [Dec. 31. 

New Policies issued in 1880. 





Number. 


Amount. 


Whole-life policies .... 


72 


$80,421 00 


Endowment policies 


48 


42,007 00 


All other policies .... 


3 


6,500 00 


Additions by dividends . 


689 \ 


177 00 


Total number and amount 


$1,088,112 00 


. Policies ceased to be in Force during the Year. 






Number. 


Amount. 


Terminated by maturity . 


1 


$500 00 


by surrender 


14 


21,301 00 


by lapse 


71 


130,350 00 


Not taken 


17 
103 


16,000 00 


Total terminated 


$168,151 00 


Policies in Force Dec 


. 31, 1880. 






Number. 


Amount. 


Whole-life policies .... 


390 


$643,110 00 


Endowment policies 


141 


184,360 00 


All other policies .... 


55 

586 


92,491 00 


Totals ...... 


$919,961 00 


Industrial policies in force . . . 


• • * 


$4,500 00 


Schedule 


A. 




Securities held as Collateral. 






Market-value. 


Amount loaned. 


36 shares Merchants' National Bank 


$1,800 00 ) 
3,000 00 > 


$4,400 00 


30 " Howard National Bank . 


50 " Vermont National Bank . 


5,000 00 


5,000 00 


70 " National Car Company . 


7,000 00 > 
2,100 00 i 


6,500 00 


84 " Burlington Gas- Light Co. 


100 " Merchants' National Bank 


5,000 00 \ 




20 " Burl. Savings and Trust Co. . 


2,000 00 C 


10,000 00 


60 " Chic, Boston, and Liv. Tr. Co. 


6,000 00) 






$31,900 00 


$25,900 00 



Schedule B. 
Stocks and Bonds owned by the Company. 

Cost value. 

Burlington city bonds .... $4,760 00 

255 shares Merchants' National Bank . 11,641 50 

170 " Howard National Bank . . 17,000 00 

122 " Burlington Gas-Light Co. . 3,050 00 



Market- value. 

$4,982 00 

12,750 00 

17,510 00 

3,050 00 



$36,451 50 $38,292 00 



1880.] 



OF OTHER STATES. 



115 



WASHINGTON LIFE INSURANCE COMPANY OF NEW YORK. 

[Incorporated Jan. 1860. Commenced business Feb. 2, I860.] 
Paid-up Capital, $125,000. 
W. A. Brewer, Jun., President. 

William Haxtun, Vice-President and Secretary. 

Income. 

Total premium income $1,016,002 66 

Cash received for interest on stocks, bonds, and loans . 288,546 62 

for interest on other debts due the company, 4,376 07 

as discount on claims paid in advance . 15,181 31 

for profits on bonds and stocks sold . . 17,386 17 



Total income $1,341,492 83 

Net or ledger assets Dec. 31, 1879 5,328,224 72 



Total 



Disbursements. 

Cash paid for losses and additions .... 
for matured endowments and additions . 

Gross amount paid for losses and endowments . 

Cash paid to annuitants 

for surrendered policies .... 
dividends paid policy-holders, applied in payment of 
premiums ....... 



Total paid policy-holders 

Cash paid for dividends to stockholders . 
for commissions to agents 
for salaries and travelling-expenses of agents 
for medical examiner's fees 
for salaries of officers and office employe's . 

for taxes and fees 

for rent 

for commuting commissions 

ibr advertising ...... 

for incidentals 

for loss on securities sold .... 

Total disbursements ...... 



Balance 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens) . 

on company's policies assigned as collateral . 



1,669,717 55 



$329,955 98 
163,854 51 

$493,810 49 

2,623 98 

234,621 76 

200,409 31 

$931,465 54 

8,925 00 

57,285 74 

15,195 00 

9,265 00 

40,783 27 

6,977 25 

6,750 00 

22,659 38 

7,381 78 

32,854 20 

41,976 05 

$1,181,518 21 

$5,488,199 34 



$493,822 92 

3,124,623 02 

34,025 14 



116 



LIFE INSURANCE COMPANIES [Dec. 31, 



Cost value of stocks and bonds owned (schedule A) 
Cash in company's office ...... 

deposited in bank and Trust Co. . 
Agents' ledger balances 

Ledger assets (as per balance) . 

Other Assets. 
Interest due and accrued ...... 

Market-value of stocks and bonds over cost 
Uncollected premiums on policies in force, 
Deferred premiums on policies in force 



Total . ... 

Deduct loading (20 per cent) . 
Net am't uncollected and deferred prems. 



$33,976 05 
116,567 56 

$150,543 61 
30,108 72 



Total assets per company's books 

Items not admitted. 



Agents' balances 

Total admitted assets 



Liabilities. 



$5,517 00 

36,916 05 
21,411 99 



Computed premium reserve or net present value of all out- 
standing policies (Actuaries' 4 per cent) 

Matured endowments due and unpaid 

Death losses and matured endowments in pro 
cess of adjustment .... 

Claims resisted by the company 

Total policy claims .... 

Unpaid dividends due stockholders . 

Due for salaries, rent, and office expenses 

Premiums paid in advance 

Liabilities as to policy-holders . 
Surplus as regards policy-holders 

Gross liabilities .... 



$1,492,786 43 

2,989 92 

315,217 75 

24,734 16 

$5,488,199 34 



37,417 08 
194,663 57 



120,434 89 
$5,840,714 88 

24,734 16 

$5,815,980 72 

$5,176,893 00 



63,845 04 

113 75 

2,291 65 

8,495 22 

$5,251,638 66 

564,342 06 

$5,815,980 72 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1879. 

Number. 

Whole-life policies 8,011 $ 

Endowment policies 2,118 

All other policies 10 



New Policies issued in 1880. 



Whole-life policies . 
Endowment policies . 
All other policies 



1,192 

713 

2 



Amount. 

L7,839,447 00 
3,607,827 00 



2,660,740 00 
1,189,585 00 



1880.] 



OF OTHER STATES. 



117 



Old Policies revived during the Year. 

Number. 

Whole-life policies 80 

Endowment policies 20 

Additions by dividends - 



Amount. 

$188,500 00 

38,000 00 

369,247 00 



Total number and amount . 



12,146 $25,893,346 00 



Policies ceased to be in Force during the Year. 

Number. 

Terminated by death 112 

by maturity 
by expiry 



by surrender 
by lapse 
Not taken 

Total terminated 



Policies in Force Dec 



Whole-life policies J . 
Endowment policies . 
All other policies 

Totals 



71 
1 

248 
392 
246 



Amount. 

$305,481 00 
167,600 00 

820,656 00 
682,414 00 
465,925 00 



1,070 $2,442,076 00 
SI, 1880. 

Number. Amount. 

8,528 $19,160,373 00 
. • 2,538 4,290,897 00 
10 



11,076 $23,451,270 00 



Schedule A. 
Bonds owned by the Company. 

Cost value. 



United States bonds 

New York city bonds 

New York and Brooklyn bridge bonds 

Brooklyn park bonds 

Brooklyn water loan 

Kingston (N.Y.) bonds . 



$130,190 13 
968,542 29 

I 285,900 00 i 

106,098 63 
2,055 38 



Market-value. 

$120,000 00 

1,100,250 00 

277,200 00 

67,000 00 

120,000 00 

3,000 00 



$1,492,786 43 $1,687,450 00 



ACCIDENT INSURANCE COMPANIES 

OF OTHER STATES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1880. 



120 



ACCIDENT INSURANCE COS. [Dec. 31, 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



FIDELITY AND CASUALTY COMPANY, NEW YORK. 

[Incorporated March 20, 1876. Commenced business May 1, 1876.] 

Paid-up Capital, $100,000. 

Wm. M. Richards, President. John M. Crane, Secretary. 



Summary of Assets Dec. 
United States bonds 
Cash in the office of the company . 

deposited in bank . 
Interest due and accrued . 
Premiums in course of collection (gross) 

Glass on hand 

Re-insurance due from other companies 
Agents' balances . . . $549 08 
Furniture and fixtures . . 700 00 
Bills receivable . . . 595 61 

Prems. more than 3 months due, 392 15 



$2,236 84 



Liabilities. 



Gross assets 

Losses claimed and reported 
disputed or resisted 

f Plate-glass 
Unearned premiums on out- \ Steam-boiler 



standing risks, 



i 



j Fidelity 
L Accident 

Due and accrued for rent, salaries, etc. 

Money deposited with company 

Commissions and brokerage 

Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital .... 



Surplus over capital . 

Income. 

Cash received for plate-glass risks . 
Deduct re-ins., rebate, and return prems 
Net cash received for plate-glass risks, 



31, 1880. 

$118,920 00 

3,968 49 

17,050 95 

61 31 

31,893 77 

1,000 00 

37 50 



$3,864 23 

1,000 00 

14,916 58 

9,263 55 

4,911 60 

26,686 26 

363 12 

150 00 

7,176 08 



$30,345 05 
1,422 68 



$172,932 02 



68,331 42 

$104,600 60 
100,000 00 

$4,600 60 



$28,922 37 



1880.] OF OTHER S 

Cash received for boiler risks . 

Deduct re-ins., rebate, and return prems 

Net cash received for boiler risks 
Cash received for accident risks 
Deduct re-ins., rebate, and return prems 

Net cash received for accident risks 
Cash received for fidelity risks 
Deduct re-ins., rebate, and return prems 

Net cash received for fidelity risks 
Interest received on bonds 


TATES. 

$19,206 78 
' 350 55 


121 

$18,856 23 

53,372 52 

9,318 64 
7,042 37 


$54,438 93 
1,066 41 


$9,416 97 
98 33 


■ • • • 

LES. 

$1,179 25 
1,179 25 

$15,681 45 
2,910 66 


Gross cash income 

Expenditui 

Cash paid for fidelity claims 
Deduct amount recovered 

Cash paid for plate-glass claims 

Deduct salvage .... 
Net cash paid for plate-glass claims 

Cash paid for steam-boiler claims 

Cash paid for accident claims . 

Deduct re-insurance 

Net cash paid for accident claims 

Cash paid for commissions and brokerage 
for salaries of officers and emp] 
for state and local taxes . 
for incidentals . 

Profit and loss account . 


$117,512 13 

$12,770 79 
8,032 99 

18,853 27 
25,089 13 
21,640 94 
3,606 67 
20,636 43 
853 57 

• 


$18,955 05 
101 78 


oyes . 

• • • 

hiums. 

$871,193 00 
1,258,002 71 


Gross cash expenditures . 

Risks and Prei 

Plate-glass risks outstanding Dec. 31, 1879, 
written during 1880 


$111,483 79 

Premiums. 

$25,104 67 
37,751 62 


Total 

Deduct risks expired and terminated 


$2,129,195 71 
1,130,162 77 


$62,856 29 
33,023 13 


In force at end of year 

Boiler risks outstanding Dec. 31, 1879 
written during 1880 


$999,032 94 

$882,120 00 
2,358,164 00 


$29,833 16 

$9,306 46 
23,349 09 


Total 

Deduct risks expired and terminated 


$3,240,284 00 
1,371,676 00 


$32,655 55 
14,128 44 


In force at end of year 

16 


$1,868,608 00 


$18,527 11 



122 



ACCIDENT INSURANCE COS. [Dec. 31, 



Accident risks outstanding Dec. 31, 1879 
written during 1880 . 

Total 

Deduct risks expired and terminated 

In force at end of year 
Deduct amount re-insured 

Net amount in force . 

Fidelity risks outstanding Dec. 31, 1879 
written during 1880 . 

Total 

Deduct risks expired and terminated 

In force at end of year 



55,111,139 00 
14,088,329 00 



519,199,468 00 
9,716,995 00 

19,482,473 00 
155,500 00 



$45,000 00 
752,700 00 

5797,700 00 
79,400 00 

5718,300 00 



Massachusetts Business. 



Premiums. 

530,537 83 
93,002 52 

5123,540 35 
56,117 69 

567,422 66 
516 50 



>,326,973 00 566,906 16 



Risks written during 1880 
Premiums received . 
Losses incurred 
paid 



Plate-glass. 
5516 15 

12 50 



5725 00 
10,262 95 

510,987 95 
1,164 75 

59,823 20 



Accident. 

5421,718 00 

2,107 00 

990 64 

990 64 



HARTFORD STEAM-BOILER INSPECTION AND INSURANCE 
COMPANY OF HARTFORD, CONN. 

[Incorporated June< 1866. Commenced business October, 1866.] 

Paid-up Capital, 3200,000. 

J. M. Allen, President. J. B. Pierce, Secretary. 



Detailed Statement of Stocks and Bonds. 



Connecticut state bonds . 

United States bonds 

Evansville (Ind.) city bonds 

Urbana (111.) township bonds 

Peoria (111.) township bonds 

Peoria (111.) county bonds 

Dayton and Western Railroad bonds 
50 shares City National Bank 
13 " Hartford National Bank 
50 " Security Company . 

100 " N.Y.,N. H.,andHartf'dR.R 



Par value. 

570,000 00 

46,000 00 

10,000 00 

4,000 00 

5,000 00 

5,000 00 

15,000 00 

5,000 00 

1,300 00 

5,000 00 

10,000 00 



Market- value. 

572,800 00 

51,520 00 

10,000 00 

4,000 00 

5,000 00 

5,250 00 

15,000 00 

5,100 00 

2,080 00 

5,750 00 

17,300 00 



$176,300 00 $193,800 00 



1880.] 



OF OTHER STATES. 



123 



31, 1880. 

$10,021 59 

73,800 00 

1,660 15 

193,800 00 

294 12 

26,240 91 

3,507 90 

26,844 54 



$548 80 

3,105 00 

3,500 00 

102,132 04 

375 00 



Summary of Assets Dec. 

Cash value of unencumbered real estate . 
Loans on mort of real estate (first liens *), 
Interest due or accrued thereon 
Stocks and bonds, as per schedule . 
Cash in the office of the company- 
deposited in bank . 
Interest due and accrued . 
Premiums in course of collection (net) 
Gross assets .... 

Liabilities. 

Losses adjusted, unpaid . 

claimed and reported 

disputed or resisted 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc. 
Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital .... 

Surplus over capital . 

Income. 
Cash received for prems. and inspections 
Deduct re-insurance and return premiums 

Net cash received for premiums 
Interest received on bonds and mortgages 

and dividends received from all other sources 
Income from rents 

Gross cash income ...... 

Expenditures. 
Cash paid for losses 

dividends paid 

paid for commissions and brokerage 

for salaries of officers and employes . 

for state and local taxes .... 

for incidentals ...... 

Gross cash expenditures ..... 
Risks and Premiums. 

$14,632,302 00 
18,009,281 00 



$336,169 21 



109,660 84 

$226,508 37 
200,000 00 

$26,508 37 



$207,696 27 
7,463 37 



Risks outstanding Dec. 31, 1879 
Risks written during 1880 



Total 

Deduct risks expired and terminated 

In force at end of year 



$200,232 90 

6,356 45 

10,308 36 

465 03 

$217,362 74 

$21,222 61 

20,000 00 
50,482 12 
11,974 66 
2,887 88 
97,485 22 

$204,052 49- 

Premiums. 

$121,498 94 
210,970 62 

$32,641,583 00 $332,469 56 
15,158,316 00 128,965 36 

$17,483,267 00 $203,504 20 



* Value of lands mortgaged $239,937 00 

Value of buildings thereon ..... 43,58500 
Amount of insurance held as collateral . . . 12,400 00 



124 



ACCIDENT INSURANCE COS. [Dec. 31, 



Miscellaneous. 

Premiums and inspections received from organization of 

company 

Losses paid from organization of company 
Cash dividends declared from organization of company 
Dividends declared during the year (10 per cent) 
Losses incurred during the year .... 
Company's stock owned by directors 



,823,734 71 

129,389 24 

177,250 00 

20,000 00 

21,012 98 

38,720 00 



Massachusetts Business. 
Risks written during 1880 
Premiums received (gross) 
Received for inspections . 
Losses paid 

incurred 



$2,907,284 00 

19,297 26 

8,270 25 

352 42 

3,562 20 



METROPOLITAN PLATE-GLASS INSURANCE COMPANY, 

NEW YORK. 

[Incorporated April 22, 1874. Commenced business April 23, 1874.] 

Paid-up Capital, $100,000. 

Henry Harteau, President. Thomas S. Thorp, Secretary. 

Summary of Assets Dec. 31, 1880. 

United States bonds 

Cash in the office of the company . 

deposited in bank . 
Interest due and accrued . 
Premiums in course of collection (gross) 

Glass on hand 

Due for glass sold (since received) . 
Bills receivable . . . $253 16 
Gross assets .... 



. $134,400 00 




109 34 




8,428 22 




450 00 




4,158 91 




4,265 52 




746 53 







$152,558 52 



Liabilities 

Losses claimed and reported 
Unearned premiums on outstanding risks 
Due and accrued for rent, salaries, etc. 
Commissions and brokerage 

Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital .... 



Surplus over capital . 



$864 11 

29,096 77 

686 24 

622 88 



31,270 00 

$121,288 52 
100,000 00 

$21,288 52 



1880.] OF OTHER STATES. 125 

Income. 
Cash received for premiums . . . $61,713 45 
Deduct re-insurance and return premiums, 4,080 97 

Net cash received for premiums . $57,632 48 

Interest and dividends received from all sources . . 5,405 85 



Gross cash income $63,038 33 

Expenditures. 

Cash paid for losses $23,995 64 

Deduct salvage and re-insurance . . 5,737 58 

Net cash paid for losses . . . $18,258 06 

Cash dividends paid 10,000 00 

Cash paid for commissions and brokerage . . . 12,714 21 

for salaries of officers and employes . . . 17,161 36 



Gross cash expenditures $58,133 63 

Risks and Premiums. 



Risks outstanding Dec. 31, 1879 
written during 1879 

Total ..... 
Deduct risks expired and terminated 



Premiums. 

$1,650,584 00 $51,394 40 
1,996,366 00 62,537 22 



$3,646,950 00 $113,931 62 
1,787,329 00 55,738 08 



$1,859,621 00 $58,193 54 



In force at end of year 

Miscellaneous. 

Premiums received from organization of company . . $337,958 00 

Losses paid from organization of company (net) . . 95,468 00 

Cash dividends declared from organization of company . 47,000 00 

Dividends declared during the year (10 per cent) . . 10,000 00 

Losses incurred during the year 23,965 87 

Company's stock owned by directors .... 51,00000 

Massachusetts Business. 

Risks written during 1880 $190,830 82 

Premiums received (gross) 5,894 40 

Losses paid 2,076 24 

incurred 2,076 24 



MUTUAL BOILER INSURANCE COMPANY OF BOSTON, 

BOSTON. 

[Incorporated April 13, 1877. Commenced business June 1, 1877.] 

C. C. Walworth, President. F. Ernest Cabot, Secretary. 

Office, Room 58 Simmons'' s Building, 

Summary of Assets Dec. 31, 1880. 

Cash in the office of the company . . $5 25 

deposited in Third National Bank . 183 83 

Premiums in course of collection (gross), . 890 00 



126 



ACCIDENT INSURANCE COS. [Dec. 31, 



Corporation notes 

Due for inspection ..... 

Test gauges, etc. ..... 

Prem. notes liable to assessment, $35,709.55 
Gross assets 

Liabilities. 
Unearned premiums on outstanding risks, 
Due and accrued for rent and salaries 
Miscellaneous ...... 

Gross liabilities . . 

Balance against the company 

Income. 

Cash received for premiums 

Deduct re-insurance and return premiums, 

Net cash received for premiums 
Income from inspections .... 
Deposit notes received during the year 

Gross cash income .... 

Expenditures. 
Cash paid for commissions and brokerage 

for salaries of officers and employes 
for state and local taxes . 
premiums returned during the year 
paid for rent . 

for incidentals . 

Gross cash expenditures . 



$3,058 05 

43 35 

200 00 


$3,560 94 

800 34 

15 96 



$3,880 48 



4,377 24 



$496 76 



$7,342 47 




428 20 






$6,914 27 
162 50 


_ 


$36,712 35 





',076 77 



$205 44 


4,855 94 


71 26 


462 87 


395 00 


1,758 07 



$7,748 58 



Risks and Premiums. 

Risks outstanding Dec. 31, 1879 . . $858,140 00 
written during 1880 . . . 890,340 00 



Total ..... 
Deduct risks expired and terminated 

In force at end of year 



$1,748,480 00 
897,140 00 

$851,340 00 



Massachusetts Business. 

Risks written during the year .... 

Premiums received 

Deposit notes received 



$612,940 00 

5,096 62 

25,483 10 



1880.] 



OF OTHER STATES. 



127 



TRAVELERS' INSURANCE COMPANY (ACCIDENT DEPART- 
MENT) OF HARTFORD, CONN. 

[Incorporated June 17, 1863. Commenced business April 1, 1864.] 

Paid-up Capital, $600,000. 

James G. Batterson, President. Rodney Dennis, Secretary. 

Income. 

Total premium income $1,276,472 14 

Cash received for interest on stocks, bonds, and loans . 64,327 70 

for interest on other debts due the company, 4,375 58 

as discount on claims paid in advance . 791 29 

for rents of company's property . . 598 50 

for profits on bonds and stocks sold . . 2,474 38 



Total income 
Net or ledger assets Dec. 31, 1879 



Total 



Disbursements. 

Cash paid for losses and additions . 

for dividends to stockholders . 

for commissions to agents 

for salaries and travelling- expenses 

for medical examiner's fees 

for salaries of officers and office e 

for taxes and fees 

for rent 

for furniture and office fixtures 

for advertising 

for incidentals .... 

Total disbursements .... 



Balance 




Invested in the following : — 

Assets as per Ledger Accounts. 
Cost value of real estate ..... 
Loans on mortgage of real estate (first liens) 

on collateral security (schedule A) 
Cost value of stocks and bonds owned (schedule B) 
Cash in company's office . 
deposited in bank . 
Bills receivable .... 
Agents' ledger balances . 

Ledger assets (as per balance) . 
Deduct depreciation from cost of assets 

Total net or ledger assets . 



51,349,039 59 

1,296,737 28 

^2,645,776 87 



$544,171 57 

72,000 00 

301,754 70 

112,208 87 

15,081 99 

59,660 42 

18,948 41 

16,525 07 

1,333 87 

33,763 31 

53,439 75 



,228,887 96 
,416,888 91 



$42,773 38 

161,465 00 

86,000 00 

992,736 78 

1,994 63 

99,465 43 

19,686 44 

12,767 25 

,416,888 91 
15,373 38 



$1,401,515 53 



128 ACCIDENT INSURANCE COS. [Dec. 31, 

Other Assets. 

Interest accrued $3,455 89 

Market-value of stocks and bonds over cost . . . 93,893 22 



Total assets as per company's books .... $1,498,864 64 
Items not admitted. 

Agents' balances $12,767 25 

Bills receivable 19,686 44 

Total : 32,453 69 



Total assets of Accident Department . . . $1,466,410 95 
Total assets of Life Department 4,052,783 28 



Gross assets $5,519,194 23 

Premium reserve on account of accident risks outstanding 

Dec. 31, 1880 369,562 72 

Death losses due and unpaid . . . $1,000 00 

and matured endowments in 

process of adjustment . 106,300 00 
Claims resisted by the company . . 29,000 00 

Total policy claims .... 136,300 00 

Due for salaries, rent, and office expenses 



Liabilities as to policy-holders in Accident Department 

in Life Department . 

Gross liabilities ...... 



10,000 00 

$515,862 72 
3,537,955 00 

$4,053,817 72 
$1,465,376 51 



Surplus as regards policy-holders .... 

Exhibit of Policies. 

B u mber. A moun t. 

Accident policies in force Dec. 31, 1879 . . 48,482 $114,411,038 00 
New policies issued in 1880 . . . . 73,241 150,305,567 00 



Total 121,723 $264,716,605 00 

Policies ceased to be in Force during the Year. 

Terminated by death 169 $231,642 00 

by expiry 56,724 126,226,480 00 



Total terminated 56,893 $126,458,122 00 



Policies in force Dec. 31, 1880 . . . 64,830 $138,258,483 00 

Schedule A. 
Securities held as Collateral. 

Market-value. Amount loaned. 

5 shares Phcenix Insurance Co. . . $1,250 00 $500 00 

22 " N. Y., N. H., and H. R.R. . 3,894 00 . 1,000 00 

100 " Chicago and Alton Railroad . 15,400 00 4.500 00 

1,300 " Western Union Tel. Co. . 104,000 00 80,000 00 



$124,544 00 ,000 00 



1880.] 



OF OTHER STATES. 



129 



Schedule B. 

Stocks and Bonds owned by the Company. 



United States bonds 
Connecticut state bonds 
Tennessee state bonds 
Virginia state bonds 
Elizabeth city bonds 
Chicago water loan bonds 
Bloomfield (Conn ) town bonds 
Johnson county (111.) bonds 
Wayne county (111.) bonds 
White county (111 ) bonds 
Howard township (Kan.) bonds 
Paw Paw township (Kan.) bonds 
Indianapolis and Cincinnati R.R. bonds 
Chicago and North- Western R.R. bonds 
Dubuque and Sioux City R.R. bonds 
450 shares N. Y., N. H., and H. R.R. 
100 " Chi., Rock Isl'd, and P. R.R 
400 " Chi., Bur., and Quincy R.R 
100 " Chi., Mil., and St. Paul R.R 
100 " Illinois Central Railroad 
100 " Chi. and No.-Western R.R. 
100 " Chicago and Alton Railroad 
1,000 " Pennsylvania Railroad . 
250 " American National Bank 
429 " City National Bank 
264 " Phcenix National Bank 
100 " Mercantile National Bank 
340 " Hartford National Bank 
182 " ^Etna National Bank . 
181 " Farmers' and Mech. N'l B'k 
350 " National Exchange Bank 
100 " Nassau National Bank . 
100 " National Bank of Commerce 
100 " New T Britain National Bank 
300 " Hartford Trust Co. 



Cost value. 

$270,664 50 
17,754 66 
26,677 50 
15,109 50 

9,593 33 
29,950 00 
30,000 00 
21,451 53 

4,473 75 

8,060 44 
20,441 43 

6,813 50 
12,090 00 
10,312 50 
10,400 00 
72,223 75 

43,160 00 

8,543 75 

8,781 25 

7,856 25 

8,106 25 

64,500 00 

13,782 50 

39,311 75 

35,412 50 

9,982 00 

54,645 13 

22,434 87 

22,822 88 

23,137 01 

11,000 00 

13,975 00 

11,500 00 

27,769 25 



Market-value. 

$271,120 00 
18,070 00 
15,930 00 
14,100 00 

4,000 00 
35,400 00 
30,000 00 
21,560 00 

4,850 00 

8,330 00 
20,400 00 

6,800 00 
13,780 00 
11,100 00 
10,600 00 
79,650 00 
14,000 00 
72,000 00 
12,400 00 
12,600 00 
14,100 00 
15,400 00 
66,000 00 
18,250 00 
42,900 00 
44,088 00 
13,000 00 
55,760 00 
24,024 00 
23,168 00 
26,250 00 
10,000 00 
14,500 00 
12,500 00 
30,000 00 



$992,736 78 $1,086,630 00. 



Massachusetts Business. 

Risks written during 1880 $12,739,978 00 

Premiums received ........ 98,389 84 

Losses incurred ........ 55,270 34 

paid 73,270 34 

17 



130 



ACCIDENT INSURANCE COS. [Dec. 31, 



UNITED STATES PLATE-GLASS INSURANCE COMPANY, 
PHILADELPHIA, PENN. 

[Incorporated April 12, 1867. Commenced business August, 1867.] 

Paid-up Capital, $100,000. 

Joseph S. Chahoon, President. Isaac Rixdge, Secretary. 

Detailed Statement of Stocks, Bonds, Etc. 

Securities held as Collateral for Cash Loans. 

31 arketr value. Amount loaned. 

300 shares Gas and Water Company of 

Downington $15,000 00 $15,000 00 

Summary of Assets Dec. 31, 1880. 

Cash value of unencumbered real estate . $33,617 00 

Loans on mort. of real estate (first liens*), 52,000 00 

on collateral security, as per schedule, 15,000 00 

Cash in the office of the company . . 1,270 06 

deposited in bank .... 2,052 76 

Interest due and accrued .... 460 25 

Premiums in course of collection (gross) . 1,393 81 

Personal loans 902 05 

Rents due and accrued .... 1,679 50 

Glass on hand 3,223 85 

Due on sales of glass .... 622 19 

Ground rent 444 50 

Company's stock . . $15,000 00 

Gross assets $112,665 97 

Liabilities 
Net amount of unpaid losses 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc. 

for borrowed money . 
State and local taxes 
Commissions and brokerage 

Gross liabilities, except capital . 

Surplus as regards policy-holders 
Paid-up capital .... 

Surplus over capital . 

Income. 

Cash received for premiums . . . $12,338 55 
Deduct re-insurance and return premiums, 369 40 

Net cash received for premiums . $11,969 15 



8111 


25 


5,703 


86 


2,436 


24 


906 


00 


496 


25 


250 42 



9,904 02 



1102,761 95 

100,000 00 



$2,761 95 



* Total value of property mortgaged . 
Amount of insurance held as collateral 



8102,000 00 
20,500 00 



1880.] 



OF OTHER STATES. 



131 



Interest received on bonds and mortgages 
Income from rents . 

from setting glass 

from sale of glass 

Gross cash income . 



Expenditures. 
Cash paid for losses ..... $3,199 58 

Deduct salvage and re-insurance . . 923 16 

Net cash paid for losses . . . 

Cash paid for commissions and brokerage 

for salaries of officers and employes 
for glass ...... 

for rent, interest, etc. 

Gross cash expenditures .... 
Risks and Premiums. 



Risks outstanding Dec. 31, 1879 
written during 1880 

Total 

Deduct risks expired and terminated 

In force at end of year 



$290,258 50 
313,579 50 

$603,838 00 
303,256 00 



Miscellaneous. 
Premiums received from organization of company . 
Losses paid from organization of company 

incurred during the year .... 

Company's stock owned by directors 

* 

Massachusetts Business. 
Risks written during 1880 ..... 

Premiums received ....... 

Losses incurred ....... 

paid ........ 



$2,235 24 

4,911 72 

408 03 

3,649 98 

$23,174 12 



$2,276 42 
2,174 12 
8,465 17 
2,674 95 
3,700 58 



,291 24 



Premiums. 

$11,649 13 
12,358 21 



$24,007 34 
12,599 62 



$300,582 00 $11,407 72 



$184,987 34 

37,569 61 

3,199 58 

85,000 00 



$80,702 00 

2,554 08 

873 89 

873 89 



LIFE AND ACCIDENT 

INSURANCE COMPANIES 

OF OTHER STATES 

Authorized to do Business in Massachusetts, with the Agents 
acting for the same, and the amount of business done 
by each Agent, for the Year ending October 
31, 1880, as returned to the Tax Commis- 
sioner, AND BY HIM COMPILED. 



134 



AGENTS OF LIFE INSURANCE [Oct. 31, 



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1880.] COMPANIES OF OTHER STATES. 135 





























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rNECTicuT Mutual 

isley, Elisha . 
yler, Sidney F. 




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142 



AGENTS AND SUB-AGENTS. 



LIST OF AGENTS AND SUB-AGENTS 



AUTHORIZED AT DATE OF PUBLICATION OF THIS REPORT. 



Agents marked *. 



yETNA, Hartford, Conn. 



Name. Residence. 


Name. Residence. 


Dwight Chester* . Boston. 


PhineasC. Headley .Boston. 


John H. Stevens . Boston. 


Chauueey H. Pierce* . Northampton 


CONNECTICUT GENERAL, Hartford, Coss. 


Edwin Ray* . . Boston. 


Ashley D. Haynes * . Lawrence. 


Alfred Laws* . . Brockton. 


Henry S. Bacon* . Milford. 


James M. Cushman*. Taunton. 


Edwin G. Field * . Worcester. 



CONNECTICUT MUTUAL, Hartford, Conk. 



Sidney F. Tyler* 
Daniel VV. Kilburn 
Thomas F. Dodge 
John S. Roraback 
Win. H. Thompson 
George L. Wrenn 
Joshua P. Bird . 
Sylvanus B. Fay 
J. Warren Upton 
William S. Danforth 
J. C. Hammond 
V. W. Crowson . 
Henry W. Billings 
Andrew J. Fosdick 
S. A. Stacy and Son 



Boston. 
Boston. 
Boston. 
Boston. 
' Boston. 
Boston. 
Newton. 
Newtonville. 
Peabody. 
Plymouth. 
Taunton. 
Westfield. 
Conway. 
Springfield. 
Gloucester. 



Elisha Risley * . 
Samuel H. Stone, jun. 
Seth Pooler . 
John K. Norwood 
J. C. Chaffee 
David Austin 
Albert P. Sawyer 
Oliver Walker . 
John C. Parker . 
H. H. Wellington 
William Lincoln 
William A. Smith 
William E. Pratt 
G. Ward Cook . 
Chester Buck 



Springfield. 

Beverly. 

Fall River. 

Lawrence. 

*Lee. 

Lynn. 

Xewburyport. 

Northampton. 

Pittsrteld. 

South Adams. 

Warren. 

Worcester. 

Greenfield. 

Haverhill. 

Springfield. 



EQUITABLE, New York, N.Y. 



Henry T. Blodget* 


. Boston. 


John M. Turner* 


. Northampton 


Joshua H. Johnson 


. Boston. 


Charles Fay* . 


. Springfield. 


Asher C. Palmer v 


. Boston. 


A. M. Sleeper 


. Springfield. 



FIDELITY AND CASUALTY, New York, N.Y. 



Baker and Coolidge * . Boston. 
John S. D'Evelyn . Lowell. 
Charles H. Burr* . Webster. 
Chauueey H. Pierce * . Northampton. 



Samuel H. Stone, jun. Beverly. 
Thomas H. Hill and 

Co Woburn. 

Charles D. Tucker * . Worcester. 



AGENTS AND SUB-AGENTS. 



143 



Name. 
Frederick Wiese * 
Benjamin Zaeder 



GERMANIA, New York, N.Y. 

Residence. Name. 

Boston. Henry P. Olin* 

"Worcester. 



Residence. 
. Boston. 



HARTFORD STEAM-BOILER, Hartford, Conn. 



TV. S. Chamberlin * 
Chace and Shaw* . 
David C. Freeman* 
John L. Smith* . 



Boston. 
Fall River. 
Hartford. 
Providence. 



S. A. Hayward and 

Co.* .... Brockton. 
Lockey and Allison,* Fitchburg. 
William F. Johnson * Lynn. 



James M. Burgess* 
Philip Pond 



HOME, New York, N.Y. 



Boston. 
Springfield. 



Arthur F. Barrett . Springfield. 



HOMCEOPATHIC MUTUAL, New York, N.Y. 

Charles G. Stevens* . Clinton. 



Eben'rT. Spaulding*. Boston. 
H. J. B. Hudson . Lynn. 



MANHATTAN, New York, N.Y. 



J. Mason Everett * . Boston. 
Henry B. Pierce. . Abington. 
Elbridge M. Bickford, Sherborn. 



Burrall W. Morse * 
Charles W. Holden 



Springfield. 
Boston. 



METROPOLITAN 

Paul Makepeace * . Boston. 

Jonathan Wilde . . Boston. 
Benjamin Barnbrook, Boston. 

Richard Mortimer . Boston. 

Thos. G. Rakestraw . Boston. 

Thomas P. Shiel . Boston. 

George Broadbent . Boston. 

Daniel B. Sheehan . Boston. 

E. B. Petit . . . Boston. 

Hugh M. Reaney . Boston. 

Samuel Torkington . Boston. 

M. Kallman* . . Boston. 

Thomas Lynch . . Fall River. 

Tom Green Fox . . Fall River. 

Thomas Bailey . . Fall River. 

William Thornton . Fall River. 

Walter Iredale . . Fall River. 

J. W. Cliffe. . . Fall River. 

Edward Sutton . . Fall River. 

Martin Kirk . . Fall River. 

Robert Cowgill . . Fall River. 

J. W. Smith . . Fall River. 

James Cooper . . Fall River. 

R. Bowers . . . Fall River. 

M. McFadden . . Fall River. 

P. Murray . . . Fall River. 

A. B. Fisher . . Fall River. 



LIFE, New York, N.Y. 

George A. Hill* 
John Blake 
Patrick McAvoy 
John Flowers 
Otis Vicary . 
Edwin Spedding 
Thomas Mutch . 
Henry Osboin . 
Joseph S. Smith . 
Fred. B. Broadhead . 
Henry Snowball 
Simeon P. Flynn 
R. W. St. Pierre 
William T. Haworth . 
Alvah Harvey * . 
W. D. Arnold * . 
James Moss 
Alonzo Campbell 
James Sykes 
Edward Hitchins 
Albert Goldthorp 
Charles Drouet . 
H. M. Warburton 
John Sykes 
Albert Simmons • 
John Sharnles . 



Springfield. 

Lynn. 

Lynn. 

Lynn. 

Lynn. 

Lynn. 

Newburyport. 

Peabody. 

Salem. 

Salem. 

Salem. 

Lowell. 

Springfield. 

Springfield. 

Springfield. 

Rockland. 

Lowell. 

Lowell. 

Lowell. 

Lowell. 

Lowell. 

Lowell. 

Lawrence. 

Lawrence. 

Holyoke. 

Fall River. 



144 



AGENTS AND SUB-AGENTS. 



METROPOLITAN PLATE-GLASS, New York, N.Y. 



Name. 
Jacob Bean* 
L. B. Usher* 



Cornel's G. Attwood,* 
Frederick Krause 
Silas Sanborn 
Frank M. Hay den 
Edmund R. Fowler . 
J. B. Anthony 
Charles W. Tarbell . 
George L. Spaulding . 
John W. Allen . 
William E. Chase 
Robert R. Horton 
Reuben Nickerson 
J. Frank Dalton . 
Zenas C. Rennie 
George D. Dutton 
Henry White 
James R. Wells . 
Andrew S. Briggs 
Frank H. Wright 
Henry M. McCloud . 



Hedges and Hodges * . 
W. H. S. Jordan 
Rich'd V. C. Emerson, 
James C. Whitmore . 
James Townsend 
Silsbee and Pickford . 
Benjamin W. Russell, 
Sparrow Horton . 
W. H. Whittemore . 



James T. Phelps* 
Edwin S. Merrill * 



James B. Niver* 
Benjamin A. Ball 
C. R. Gritting 
Benjamin S. Calef 
A. J. Mosher . 
John W. Guiteau 
J. M. Shepard, jun. 
A. D. Easton 
S. W. Cook . 
William Stacy . 
J. C. Proctor 
Jarvis Rockwell* 
Fred Harris 
James Melanefy * 



Residence. 


Name. 


Reaidpnoe. 


Boston. 


S. D. Howland*. 


Fall River. 


Lynn. 


Emory H. Nash * 


Pittsfield. 


MUTUAL, New York, N.Y. 




Boston. 


William R. Gordon , 


Beverly. 


Boston. 


Samuel D. Greene 


Chelsea. 


Boston. 


Charles G. Steven? 




Boston. 


and Son . 


Clinton. 


Boston. 


S. D. Howland . 


Fall River. 


Boston. 


J. A. Remington 


Fall River. 


Bostou. 


Edward F. Adams 


JJaverhill. 


Boston. 


Charles Hovey . 


Lowell. 


Maplewood. 


Francis E. Manley . 


Lowell. 


Newburyport. 


L. Grinnell and Son . 


New Bedford. 


No. Eastham. 


Christopher Clark 


Northampton 


Orleans. 


George D. Adams 


Newton. 


Salem. 


William P. Hood 


Somerset. 


Springfield. 


Franklin Whipple 


Worcester. 


Springfield. 


J. B. Bonnell 


Worcester. 


Springfield. 


H. L Follansbee 


Gloucester. 


Springfield. 


George A. Pratt . 


Somerville. 


Taunton. 


C. B. Wolcott . 


Holyoke. 


Gt. Barringt'n, 


R. B. Robinson . 


Westfield. 


Amherst. 






JTUAL BENE! 


TT, Newark, N.J. 




Boston. 


George W. Allen 


Amherst. 


Boston. 


Edward A. Thomas 


Amherst. 


Boston. 


Homer M. Daggett 


i 


Boston. 


jun. . 


. Attleborough 


Boston. 


James S. Tileston 


. Hingham. 


Lynn. 


Joshua Merrill . 


Lowell. 


Salem. 


John T. Hall 


. Plymouth. 


Woburn. 


John W. Hersey 


Springfield. 


Worcester. 


Frank W. Wheeler 


Worcester. 


NATIONAL, M 


[ontpelier, Vt. 




Boston. 


S. A. Childs* . 


Fitchburg. 


Winchendon. 


Charles D. Tucker* 


Worcester. 


NEW YORK, 


S~ew York, N.Y. 




Boston. 


Amos D. Smith, 3d* 


Boston. 


Boston. 


George L. Stocking 


Boston. 


Boston.. 


William F. Morrill . 


Boston. 


Boston. 


0. W. Gardiner . 


Boston. 


Boston. 


H. Askenasy 


Boston. 


Boston. 


J. C. McKelvey . 


Boston. 


Fall River. 


George Parsons . 


Haverhill. 


Fall River. 


Charles J Irwin 


Haverhill. 


Lowell. 


C. K. Flanders . 


Haverhill. 


Marblehead. 


Horace Choate . 


Newburyport. 


North Adams. 


Levi Preston 


Peabody. 


North Adams. 


Ira F. Lowell 


Rockland. 


Springfield. 


A. Y. Newton 


Worcester. 


AVorcester. 


George E. Plummer . 


Salem. 



AGENTS AND SUB-AGENTS. 



145 



NORTHWESTERN MUTUAL, Milwaukee, Wis. 



Name. 
Edward J. Smith * 
William P. Gannett 
D. C. Griswold . 
John Pryor . 
F. L. Giiman* . 
Edward D.Tyler* 
L. H. Whitney . 
Philias Broullett 



. Residence. 
Boston. 
Boston. 
Boston. 
Lexington. 
New Bedford. 
North Adams. 
N. Cambridge. 
Lowell. 



Name. 
J. M. Kilgore* . 
Alonzo Campbell 
F. E. Blaisdell . 
E. M. Bliss . 
Antoine Houde . 
R. S. Gordon 
Bard Plummer . 
Elzar Guigras 



Residence. 
. Lowell. 
. Lowell. 
.' Lowell. 
; LowelL 
. Lowell. 
. Lowell. 
. Newton. 
. Lowell. 



Barnard Bros.* . . Boston. 
Thomas S. Furniss . Boston. 
S. F. Tyler and Co. . Boston. 



PENN MUTUAL, Philadelphia, Penn. 

J. E. Jacobs . . Boston. 
Noah A. Plympton* . Worcester. 
George French . . North Adams. 



PROVIDENT LIFE AND TRUST, Philadelphia, Penn. 



Gilbert C.Hoag* .Boston. 
Dexter L. Stone . . Boston. 
S. Clarence Tozzer . Lynn. 



David N. Hoi way 
Hiram V. Gould 



. Boston. 
. Boston. 



PROVIDENT SAVINGS, New York, N.Y. 



Fred W. Masters* . Boston. 
John E. Huntress . Boston. 



Siegfried Wolff sohn . Boston. 



TRAVELERS', Hartford, Conn, 



Hatchand Woodman,* 
Harry B. Adams 
Abraham and Co. 
Benjamin F. Brown . 
T. Edward Bond 
Edward Chase . 
John F. Crowell 
Edwin L. Cogswell . 
William H. Curtis . 
Lewis W. Marden 
Charles A. Dean 
John H. Daniels 
Albert A. Davis . 
Charles H. Davis 
James M. Forbush . 
Arthur S. Alford 
Henry A. Brown 
Andrew S. Briggs 
William Barnes . 
Henry S. Bacon . 
Horace W. Bush 
Edward E. Belding . 
George S. Brooks 
Henry A. Bowen 
John Edwards and Co. 
E. F. Brown . 
E. A. Bond . 
H. C. Church and Son, 
19 



Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Boston. 

Worcester. 

Lee. 

Haverhill. 

Salem. 

Boston. 

Fitchburg. 

Lynn. 

Lawrence. 

Natick. 

North Adams, 

Salem. 

Taunton. 

Marlborough. 

Milford. 

W.Brookfield. 

Chicopee. 

Orange. 

Shelb'rn« F'ls. 

Lawrence. 

Athol. 

North Adams. 

Lowell. 



T. C. Collins 
Royal E. Farwell 

E. J. Fuller 
George O. Fogg . 
H. G. Gilmore . 

F. S. Harrington 
Hunt and Hamilton . 
Samuel E. Howe 

A. H. Willis 
Jacob C. Hiltz . 
Marcus M. Howard . 
Hatch and Co. . 
John T. Hall 
Austin G. Ryder 
Jos. M. Hollywood . 
Waldo Johnson . 
Alonzo P. Jones. 
F. A. Judd . 
H. S. Keeler 
Wm. Lincoln and Co. 
Edwin Mercer . 
William Medcalf 
Elisha M. Phillips . 
Samuel Porter . 
Piper and Sawyer 
Wm. Parkinson, jun. 
Asa P. Rand 
George M. Roberts . 



Middleboro'. 

Natick. 

Winohendon. 

Boston. 

Springfield. 

Boston. 

Athol. 

Pittsfield. 

Palmer 

Boston. 

Greenfield. 

New Bedford. 

Plymouth. 

Taunton. 

Brockton. 

Webster. 

Boston. 

Springfield. 

Boston. 

Warreu. 

Boston. 

Ware. 

Southbridge. 

Beverly. 

Newburyport. 

Boston. 

Westfield. 

Boston. 



146 



AGENTS AND SUB-AGENTS. 



TRAVELERS', Hartford, Conn. — Concluded. 



Name. 
Oscar F. Rawaon 
Charles M. Ruggles • . 
A. T. and M. Roraback, 
C. D.FullertonandCo. 
George G. Morrill 
J. A. Remington 
Jacob Silloway, jnn. . 
William E. Sheldon . 
George H. Goodwin . 
George W. Cook 
C. D. Wheeler . 
Frank P. Doolittle . 
Forest E. Day . 
William A. Edwards . 
H. L. Follansbee 
Ernest Field 
M. E. Daniels . 

E. A. R. Fairchild . 

F. L. Gilman 

John W. Gay, jun. . 
S. D. Howland . 
John C. Hammond . 
E. V. B. Holcomb . 
Merrill E. Hervey 
Edward F. Adams 
S. Anderson 
C. G. Stevens and Son, 
J. M. Stevenson . 
John M. Turner . 

G. E. Underwood 
Porter Underwood 
Daniel F. Viles . 
Noah J. Carter . 
W. W. Ward . 
Samuel Whittier 
Dunn and Dnnn . 
A. D. Swan 
William Lewis . 



Residence. 
Worcester. 
Worcester. 
Canaan. 
Brockton. 
Boston. 
Fall River. 
Canton. 
Boston. 
Burnside. 
Haverhill. 
Boston. 
Springfield. 
Boston. 
Boston. 
Gloucester. 
Ashburnham. 
Palmer. 
Belchertown. 
New Bedford. 
Winchendon. 
Fall River. 
Taunton. 
Chicopee. 
Boston. 
Haverhill. 
Ayer Junct'n. 
Clinton. 
Pittsfield. 
Northampton. 
Ayer. 
Holyoke. 
Waltham. 
North Adams. 
Holyoke. 
Leominster. 
Gardner. 
Lawrence. 
Boston. 



Name. 
Daniel Hooke 
Albert Hyde 
Harriet L. Hart well . 
W. 1. Hawks 
Charles Hartwell 
Charles C. Jndd . 
W. F. Johnson . 
N. S. Kimball . 
Charles E. Kirby 
Locke and Gale . 
William H. Mansfield, 
George Otis . 
James O. Parker 
Moses H. Pease . 
L. H. Palmer . 
R. B. Robinson . 
J. W. Richardson 
Walter S. Rodinon . 
O P. Richardson, jun. 
J. H. Stannard . 
Silsbee and Pickford . 
H. R. Stoughton 
W. W. Tandy . 
H. Van Carapeu . 
Oliver Walker . 
Frank H. Wright 
Joseph L. White 
Henry M. McCloud . 
Charles B. Dennis 
William A. Carleton . 
Charles L. Hayden . 
Benjamin L. Merrill . 
Richardson and Cady, 
Daniel W. Stratton . 
Edgar K. Williams . 
William Freeston 
J. L. Dennison . 
R. N. Holman . 



Residence. 
Haverhill. 
Pittsrield. 
Waltham. 
Boston. 
Worcester. 
Holyoke. 
Lynn. 
Haverhill. 
Fitchburg. 
Boston. 
Gt.Barrington. 
Yarmouthp't. 
Methuen. 
Lee. 
Boston. 
Westfield. 
Boston. 
Northampton. 
Attleborough . 
Lawrence. 
Lyun. 
Palmer. 
Gardner. 
New Bedford. 
Northampton. 
Gt.Barriugton. 
Boston. 
Amherst. 
Fitchburg. 
Boston. 
So. Deerfield. 
Boston. 
North Adams. 
Hudson. 
Milton. 
Hartford. 
Norwich. 
Boston. 



UNION MUTUAL, Augusta, Me. 



Daniel Sharpe* . 
James C. Benn . 
George W. Crofut 
John J. Corrigan 
J. H. Culver. 
H. E. Worcester 
Edward Barrows. 



Boston. 
Boston. 
Boston. 
Lowell. 
Lowell. 
Lowell. 
Lowell. 



John C. Thompson . Boston. 
George B. Towle . Boston. 
James L. Frost . . Boston. 
O. L. Cowles . . Westfield. 
Abiathar Doane, jun. Springfield. 
J. G. Clark . . . Springfield. 



UNITED STATES, New York, N.Y. 



Luther G. Pitman * . Boston. 
Lewis Carroll . • Boston. 



George B. Perry* 
David W.C.Scates* 



North Adams. 
Springfield. 



AGENTS AND SUB-AGENTS. 



147 



UNITED STATES PLATE-GLASS, Philadelphia, Penn. 



Name. Residence. 

Roswell S. Barrows,* Boston. 
Charles C.Judd* . Holyoke. 



Name. 
William S. Greene * 



Residence. 
Fall River. 



VERMONT, Burlington, Vt. 



C. W. Carter* . 


. Boston. 


William Bayard. 


. Boston. 


Robert H. Magwood 


. Boston. 


Ellen S. Hatch . 


. Boston. 


John Gordon 


. Boston. 


John F. McCarthy 


. Boston. 


John Gordon, jun. 


. Boston. 


A. W. Haynes . 


. Bolton. 


John H. Bond . 


. Cambridgep't. 


Aug. E. Chadwick 


. Clinton. 


Henry L. Chadvvick 


. Chelsea. 


John Slinn . 


. Fall River. 


Thomas M. Martin 


. Lowell. 


John A. Spencer 


. Fall River. 


H. J. B. Hudson 


. Lynn. 


Lucy P. Jones . 


. New Bedford 


Charles D. Tucker 


Worcester. 


Fred S. Hopkins 


. Worcester. 


WASHINGTON, 


New York, N.Y. 




Charles W.Holden* 


Boston. 


Henry T. Blodget 


. Boston. 


Jacob Fox . 


. Boston. 


J. Mason Everett 


. Boston. 


R.H.Salter* . 


Boston. 


Fred W. Masters 


. Boston. 


John S. Winn . 


Boston. 


Thomas E. Lambert 


. Boston. 


John S. Roraback 


. Boston. 


Edward L. Quigley 


. Boston. 


C. H. Boardman 


Lynn. 


M. N. Wheelwright 


. Newton. 


Franklin Whipple 


Worcester. 


H. H. Lovett 


. Newton. 



INDEX TO COMPANIES. 



[For Index to General Topics and Tables, see Table of Contents prefacing the Commis- 
sioner's Report.] 



Page 
Accident Insurance Company of North America, Canada .... xix 
iEtna Life, Hartford, Conn 26 

Berkshire Life, Pittsfield, Mass 2 

Connecticut General Life, Hartford, Conn 33 

Connecticut Mutual Life, Hartford, Conn x, 37 

Continental Life, Hartford, Conn ix 

Equitable Life, New York, N.Y 41 

Fidelity and Casualty xviii, xx, 120 

Germania Life, New York, N.Y 48 

Guarantee Company of North America, Canada xx 

Hartford Life and Annuity, Hartford, Conn vii, viii 

Hartford Steam-Boiler xix, 122 

Home Life, Brooklyn, N.Y 51 

Homoeopathic Mutual Life, New York, N.Y 56 

John Hancock Mutual Life, Boston, Mass 6 

Knickerbocker Casualty xviii, xix 

Manhattan Life, New York, N.Y x, 59 

Massachusetts Hospital Life, Boston, Mass 10 

Massachusetts Mutual Life, Springfield, Mass 11 

Metropolitan Life, New York, N.Y 65 

Metropolitan Plate-Glass xix, 124 

Mutual Life, New York, N.Y x, xi, xxii, 68 

Mutual Benefit Life, Newark, N.J x, xxii, 73 

Mutual Boiler xix, 125 

National Life, Montpelier, Vt x, 77 

National Life, Washington, D.C. vii, ix 

New England Mutual Life, Boston, Mass 16 

New York Life, New York, N.Y 81 

Northwestern Mutual Life, Milwaukee, Wis. 85 



160 INDEX TO COMPANIES. 

Page 

Perm Mutual Life, Philadelphia, Pa 89 

Phoenix Mutual Life, Hartford, Conn vii 

Provident Life aud Trust, Philadelphia, Pa 93 

Provident Savings, New York, NY 97 

State Mutual Life, "Worcester, Mass 21 

Travelers', Hartford, Conn. (Life Department) 100 

Travelers', Hartford, Conn. (Accident Department) .... xviii, 127 

Union Mutual Life, Augusta, Me x, 104 

United States Life, New York, N.Y x, 108 

United States Plate-Glass xix, 130 

Vermont Life, Burlington, Vt 112 

Washington Life, New York, N.Y 115